Nasdaq (NAS100) Buyers Eyeing Bullish Opportunities as the Year Ends

Azeez Mustapha

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Market Analysis – December 25th

Nasdaq (NAS100) buyers are eyeing bullish opportunities as the year ends. The buyers in the Nasdaq market may be setting in motion a longer course as we approach the end of the year. This presents a potential opportunity for bullish growth to solidify. Last week, the sellers gained some attention as the market experienced a downward drive. However, let’s examine the breakdown in bullish progress that occurred in November.

Nasdaq (NAS100) Key Zones

Resistance Levels: 16876.40, 16528.00
Support Levels:15147.00, 15766.50

Nasdaq (NAS100) Buyers Eyeing Bullish Opportunities as the Year Ends

Nasdaq (NAS100) Long Term Trend: Bullish 

Prior to the buyers’ dominance in early November, Nasdaq was seemingly on a bearish trend. The bears’ hope was dashed when the buyers broke through the significant zone at 15147.00. Nasdaq then made a solid swing close to the key level of 15766.50 before experiencing a slowdown.

The index price faced some struggle before initiating further expansion this month. However, last week, the bullish liquidity expired near the 16876.40 price zone, failing to breach through the significant level. This suggests that the bullish run could be coming to an end as the year gradually draws to a close.

Market participants may need to make crucial decisions before joining the flow in the Nasdaq market. This will potentially impact the direction of the market. The RVI (Relative Volatility Index) suggests that the buyers may begin losing out sooner or later. 

Nasdaq (NAS100) Buyers Eyeing Bullish Opportunities as the Year Ends

Nasdaq (NAS100) Short Term Trend: Bullish 

However, the reverse could be the case, as the Parabolic SAR (Stop and Reverse) indicator remains unyielding for a reversal. This indicates that the bulls in the index market are still unwilling to give up, although momentum may be gradually declining.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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