NASDAQ 100 Wave Analysis – Action Forex

NASDAQ 100 reversed from support level 19000.000
Likely to rise to resistance 20000.00

NASDAQ 100 Index recently reversed up from the support level 19000.000 (former resistance from the middle of May, acting as the support after it was broken previously).

The upward reversal from the support level 19000.000 continues the active short-term impulse wave 3 of the higher order impulse wave (3) from April.

Given the clear daily uptrend, NASDAQ 100 Index be expected to rise further to the next round resistance 20000.00, target price for the completion of the active impulse wave 3.