Analysis:
The NASDAQ100 appears to be following a classic 5-wave structure.
Currently, we are finishing Wave 3, with an expected corrective move toward the 50% Fibonacci retracement zone near 19,018.7.
From there, the chart suggests a continuation toward the 19,879 area (close to the daily 200 EMA) and, finally, toward the 20,866 target, completing the cycle.
Key zones:
Support: 19,018.7 (50% Fibo and strong structural level)
Resistance: 19,879.1 and 20,866.2
Additional levels: Daily 200 EMA and previous structural gaps
The path won't be in a straight line — expect consolidation and pullbacks along the way. However, the bullish projection remains intact as long as the 19,018.7 support holds.
Let's keep riding the wave! 🌊
The NASDAQ100 appears to be following a classic 5-wave structure.
Currently, we are finishing Wave 3, with an expected corrective move toward the 50% Fibonacci retracement zone near 19,018.7.
From there, the chart suggests a continuation toward the 19,879 area (close to the daily 200 EMA) and, finally, toward the 20,866 target, completing the cycle.
Key zones:
Support: 19,018.7 (50% Fibo and strong structural level)
Resistance: 19,879.1 and 20,866.2
Additional levels: Daily 200 EMA and previous structural gaps
The path won't be in a straight line — expect consolidation and pullbacks along the way. However, the bullish projection remains intact as long as the 19,018.7 support holds.
Let's keep riding the wave! 🌊
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.