Nasdaq100 is currently at it's highest price, 52 weeks maximum. Since September 2020, it had been rising in an ascending channel. Currently, it is at the resistance of that channel. We can expect two things to happen around this area, a breakout of that resistance and push price further or a rejection and send price lower to the support of that channel. We should also keep in mind that a fake breakout of the resistance can be expected to put traders on the wrong side and then it falls. The only best way is to wait for confirmation that can help us understand what price will do next instead of blindly entering the market.
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