The Nasdaq 100 recovers as recession worries may temper the Fed’s eagerness to raise rates later this year. The index is hovering above November 2020’s lows at 11050. Profit-taking and fresh buying have stabilised the price action for now. 11950 is the next resistance and its breach could open the door for a rally towards 12500 where selling pressure could be expected. Sentiment would remain bearish in the medium-term unless the bulls succeed in lifting that hurdle. 11300 is the immediate support if the index struggles.
