05.12.202406:48 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of Nasdaq 100 Index, Thursday December 05, 2024.

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With the condition of the Golden Cross MA 50 above MA 200 on the 4-hour chart, the Nasdaq 100 index has confirmed that Buyers still dominate this market, especially on the 4-hour chart, but with the appearance of deviations between the price movement of #NDX which is increasingly making higher-highs while the MACD Histogram indicator (osMA) actually forms Higher-Low, giving an indication that in the near future #NDX has the potential to be corrected to weaken down to the level of 21255.6, which is important as long as the weakening correction does not breaks and close below 21076.3 which will change the direction of its strengthening, this index will continue its strengthening where the level of 21794.9 will be tested and if it is successfully broken and closes above it, #NDX has the potential to continue its strengthening to the level of 22111.2 and 22427.5 as the next target if the momentum and volatility support it.

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