The Nasdaq100 Industrial Index is trading around 28,292 points, above the 3/8 Murray line, above the 4/8 Murray line, and above the 21-period simple moving average (SMA), and is hovering around the 38.2% Fibonacci retracement level.
The NQ100 could continue to rise in the coming days to reach the 5/8 Murray level, around 28,906, and could eventually reach the 200-period exponential moving average (EMA), around 29,053.
Given the strong short-term bullish potential, the price is expected to reach the 61.8% Fibonacci retracement level around 29,600 and, ultimately, hit the strong resistance at the 6/8 Murray level, around 29,687 points.
If a technical correction occurs toward the 21-day simple moving average (SMA) at 27,600 in the coming hours, or support is found around the 3/8 Murray level at 27,343 points, this suggests an opportunity to buy on a technical bounce, with targets at 28,125 and 29,000 points.
The Eagle indicator is giving a positive signal, so we will look for opportunities to buy the Nasdaq100 above 27,000 points in the coming days.
