Nasdaq 100: Near Term Forecast
Updated
Hi Everyone,
Just to share the latest forecast for the Nasdaq 100.
Price has recently reached the 12.6k target level (which corresponds to 100% of Wave a price projection), and broken through unexpectedly quickly.
The next key resistance levels are between 13.15-13.3k. This corresponds to 150-162% of Wave a, and also the 127% external retracement of Wave A.
I see two scenarios - the first in which there may be a pull-back before this level is reached, and another where there won't be a significant one. (This uncertainty is because I'm unsure if the wave iv, has already occurred).
Assuming we are currently in a B wave, I see a potential a correction to complete the ABC pattern.
If you do see differently, please do leave a comment.
Good Luck!
Just to share the latest forecast for the Nasdaq 100.
Price has recently reached the 12.6k target level (which corresponds to 100% of Wave a price projection), and broken through unexpectedly quickly.
The next key resistance levels are between 13.15-13.3k. This corresponds to 150-162% of Wave a, and also the 127% external retracement of Wave A.
I see two scenarios - the first in which there may be a pull-back before this level is reached, and another where there won't be a significant one. (This uncertainty is because I'm unsure if the wave iv, has already occurred).
Assuming we are currently in a B wave, I see a potential a correction to complete the ABC pattern.
If you do see differently, please do leave a comment.
Good Luck!
Note
Sorry a typo spotted - the resistance levels are 14.15-14.3k, and not 13.15-13.3k.
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