The Nasdaq 100 has reached the critical psychological level of 22,000.0. After hitting this milestone, the index formed a swing high, triggering a corrective pullback. This pullback tested a bullish order block, where the price has now found support and is gradually regaining upward momentum.
A bullish trendline anchored at two pivotal swing lows has consistently supported the uptrend. At 20,129.0, this trendline facilitated the surge toward the psychological resistance at 22,000.0. Following a correction to the last bullish order block, the trendline has maintained its support, positioning the index for further upward movement. The Nasdaq 100 is now primed to advance toward higher resistance levels, indicating strong potential for continued gains.
Nasdaq 100 Short-Term Trend: Bullish
On lower timeframes, the Nasdaq 100 is advancing within a narrow bullish parallel channel. This formation presents opportunities for traders to enter positions at the channel’s supporting trendline, aligning with the prevailing trend. Market participants monitoring forex signals may find valuable insights in this ongoing rally, aiding their trading strategies as the index seeks to push higher.
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.
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