Nasdaq 100 Chart Technical Outlook(US100) close to a cycle completion
The 8-hour chart highlights a 261.8% extension level located at 18,139. Selling pressure from 18,095 resulted in all of Friday’s initial gains being overturned. We have bespoke support located at 17,730 and 17,042. Analysis would suggest we are completing a 5-5 wave count top. Although there is scope for mild gains, the outlook is for rallies to now find selling interest.
