According to experts from Edinburgh and the University of Strathclyde, preliminary research suggests that the new variant reduces risks of hospitalisation in Omicron patients by two-thirds compared to Delta.
This positive news about the Omicron variant of Covid-19 encouraged investors to increase their risk positions for the third day in a row, which led the main European and US stock indices to close the session with gains.
In this case, the Wall Street index, Nasdaq 100 (#NDX) has been rising for its third consecutive day. It is likely that in the next few hours and during the American session, it will continue its uptrend until it finds resistance at the level of 16,400.
According to the 4-hour chart, the Nasdaq 100 is in a strong uptrend trading above the 200 EMA and above the 21 SMA. A correction towards the zone 7/8 Murray or towards the 200 EMA around 16.007 will be an opportunity to buy with targets at 16,250 and 16,400.
The eagle indicator is giving a positive signal and the uptrend is likely to continue into the next week. Any technical correction will be an opportunity to buy while trading above the psychological level of 16,000.
Support and Resistance Levels for December 23 - 24, 2021
Resistance (3) 16,572
Resistance (2) 16,379
Resistance (1) 16,297
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Support (1) 16,079
Support (2) 15,974
Support (3) 15,779
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A trading tip for Nasdaq 100 on December 23 - 24, 2021
Buy above 16,200 or in case of rebound off at 16,007 (21 SMA) with take profit at 16,250 (8/8) and 16,400 (strong resistance), stop loss below 16,120.