Market Analysis – December 15
The Nasdaq 100 index has shown a strong recovery from a significant low of 10,619.40, marking a critical turning point in its price action. This recovery has solidified a bullish long-term trend, with the index consistently breaking resistance levels and transforming them into support zones.
Nasdaq 100 Key Levels
Demand Levels: 16,966.30, 14,025.00, 10,619.40
Supply Levels: 20,481.90, 22,820.40, 25,454.80
Nasdaq Long-Term Trend: Bullish
The Nasdaq 100 bullish momentum began after establishing a significant low at 10,619.40. This level served as the foundation for a trend reversal, enabling price action to break through multiple resistance levels and turn them into support zones. Most recently, the 20,481.90 supply zone was successfully breached, underlining the strength of the ongoing uptrend.
The index is now targeting the 22,820.40 resistance zone, a critical level that aligns with its bullish trajectory. The breach of this level could signal the continuation of the upward trend, with potential for higher price targets.
The daily moving average confirms the bullish sentiment, as the price consistently trades above this indicator, providing strong support for the ongoing upward movement. However, the daily RSI suggests caution, as it indicates the index is in the overbought region. While this typically signals a possible bearish retracement, the resilient price action suggests that any downward movement would likely be corrective in nature.
Nasdaq 100 Short-Term Trend: Bullish
The short-term trend supports the broader bullish outlook, with the price forming higher lows consistently. This pattern demonstrates the strength of buyers and the market’s inability to establish lower lows, further reinforcing the shift in market structure.
If a retracement occurs, it is likely to find solid support above the 20,481.90 level. A break below this level could suggest a deeper correction, though such a scenario remains less likely given the current bullish momentum. Crypto signals also hint at the market’s potential to maintain its upward trajectory.
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