NASDAQ 100 TECHNICAL ANALYSIS
The Nasdaq 100 has breached an important ceiling by decisively blasting past the 16,100 area. If this bullish burst is sustained, the focus will be on trendline resistance at 16,500. With the tech index in overbought territory, a potential rejection at 16,500 is plausible. However, if a breakout materializes, a retest of the all-time high might be imminent.
Conversely, if sentiment swings back in favor of sellers and prices head lower, initial technical support stretches from 16,150 to 16,050. Although this floor may provide some stability during a pullback, a push below this range could set the stage for a drop towards 15,700. On further weakness, sellers may get emboldened to initiate an assault on trendline support near 15,550.
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NASDAQ 100 TECHNICAL CHART