Nasdaq (NAS100) Bulls Are Yet To Declare Intention

Market Analysis – November 29

Nasdaq (NAS100) bulls are yet to declare intention. The bulls of Nasdaq (NAS100) are currently experiencing a moment of hesitation. They are yet to regain their footing after the previous bullish ride. The price zone above 15883.300 has proven to be a challenging obstacle for the bulls. As a result, there has been a period of consolidation over the past few days.

The traders have been eagerly watching for any signs of a breakthrough or surrender as the new week unfolds.

Nasdaq (NAS100) Key Zones

Resistance Levels: 15883.300, 15115.100
Support Levels: 14081.600, 12698.900

Nasdaq (NAS100) Long-Term Trend: Bullish

Previously, the bulls exhibited strong momentum, breaking out of the trend line zone. This bullish pressure was confirmed when the price successfully broke and retested the significant level at 15115.100. During this period of bullish pressure, the momentum indicator showed a notable spike on the daily chart. This indicates the strength of the bullish momentum.

However, since the breakout above the 15883.300 significant level, there has been a decline in the momentum of the bulls. This is evident in the consolidation phase that Nasdaq is currently experiencing. Nevertheless, the intention of the buyers remains clear: they are still looking for more opportunities before the year comes to a close.

Nasdaq (NAS100) Short-Term Trend: Bullish

The Parabolic SAR Stop and Reverse is still indicating a bullish ride. If the buyers can overcome the current consolidation phase, there is a possibility that the price could trade up to 16500.000 key zone.

 

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