• Nasdaq 100 rising inside impulse waves (iii), 3 and (3).
• Likely to rise resistance level 16000.00
Nasdaq 100 index continues to rise after the price broke above the key resistance level 15140.00, which is the upper boundary of the narrow sideways price range inside which the index has been trading from the end of July, as can be seen form the daily Nasdaq 100 index chart below. The breakout of this sideways price range accelerated the active upward impulse waves (iii), 3 and (3).
Given the clear multi-month uptrend – Nasdaq 100 index can be expected to rise further toward the next round resistance level 16000.00 (target price for the completion of the active impulse wave 3, interesting with the daily up channel from the middle of May).
