Nasdaq (NAS100) Prepares for Another Bullish Run

Market Analysis- December 11

Nasdaq prepares for another bullish run this week. The buyers in the NAS100 market are showing no signs of weakness and are gearing up for another strong run this week. As the year comes to a close, it appears that the market will end on a bullish note.

The buyers have managed to break through the highest high around the significant zone of 15000.000. Starting from the key level of 10000.000, the Nasdaq has experienced a rally, posing a significant threat to the sellers.

Nasdaq Key levels

Resistance Levels: 15708.600, 15125.700
Support Levels:12659.600, 10000.000

NAS100 Long-Term Trend: Bullish

Earlier this year, the buyers built momentum and propelled the price from the market level of 10000.000. By July, the bulls had reached close to the market zone of 15000.000. Although they were unable to extend the rally further, it resulted in a sell-off trend.

However, the buy traders regained their confidence in late October. Around the price zone of 14000.000, a bullish setup for the long term emerged. In the past few weeks, there has been a breakout above the key level of 15000.000, as the buyers refuse to give up. Currently, above the market level of 15708.600, the buyers are on the run again.
 
The buyers are exerting pressure and continuing their upward movement in the market this week. The Moving Average crossing indicator has not signaled a significant shift away from the buyers.

Nasdaq Short-Term Trend: Bullish 

The same is also true for the Parabolic SAR (Stop and Reverse) indicator. Therefore, the buyers in the Nasdaq market still pose a formidable threat. More bullish runs should be anticipated.

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