The NDX100 stock index suggests the formation of a large bullish trend that moves inside the green channel.
At the end of August, the price reached the upper green line, pushed off from it, and began to rapidly fall to the lower green line. Not so long ago, the market reached the lower green wall, but the bears could not break through it, the price pushed off, and began to grow within the ascending yellow channel of a smaller size.
Currently, the market is near the upper yellow line near the resistance level of 15546.4. If this level is broken, the price is expected to continue to rise to a higher resistance level of 163221, which is on the upper green line.
However, if the bulls cannot break through the resistance level of 15546.4, then the market will push off from the upper yellow wall and continue to move in a downward direction. The first target is at the support level of 14953.3, which is on the lower yellow line. If the bears are strong enough, they will be able to break through this level and continue to drag the market towards the support level of 14686.0, which is on the lower green wall.
