Nasdaq (NAS100) Bulls Lead the Charge Towards Year-End Gains

Market Analysis – December 18th

Nasdaq bulls lead the charge toward year-end gains. Throughout the year, the Nasdaq has taken a steady upward stroll, primarily led by buyers. The bulls have been the driving force behind the strong presence of the index in the market this year. Their expansion began in the first quarter and has continued to gain momentum.

Nasdaq Key Levels

Resistance Levels: 17000.00, 15708.000
Support Levels: 15125.000, 12659.600

Nasdaq (NAS100) Long Term Trend: Bullish

The bulls have demonstrated remarkable strength, propelling the price close to the 15500.000 market level. However, in August, the sellers made their presence known. This resulted in a brief downtrend that drove the price down to the significant level of 14041.100. But the buyers quickly regained control and initiated another upsurge, breaking through the 15500.000 level.

Following the breakout above the 15700.000 significant level, the buyers have built momentum for their next pursuit. The Nasdaq index is making efforts to achieve further gains in the market, with buyers consistently pushing the price higher.

In the near term, the Nasdaq appears poised for additional gains, with the bulls firmly in control. If the buyers can push past the 16500.000 level, it could pave the way for a rally towards the 17000 market zone and potentially even higher. This would solidify Nasdaq’s dominance in the market and showcase its continued growth. 

NAS100 Long Term Trend: Bullish

Nevertheless, the Nasdaq has been on fire this week, and the technical indicators suggest that the rally may have further room to run. While some profit-taking and consolidation are to be expected, the overall trend remains bullish. As we approach the new year, the Nasdaq looks poised to continue its upward trajectory, making it an attractive option for investors seeking growth opportunities.

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