Thu, Jul 29, 2021 @ 12:48 GMT
HomeContributorsTechnical AnalysisNAS 100 Retreats Towards Support

NAS 100 Retreats Towards Support

The Nasdaq 100 pulls back ahead of the Federal Reserve’s June monetary policy meeting.

The breakout above the previous high at 14070 is a confirmation of bullish continuation. The bullish MA cross on the daily chart suggests an acceleration in the rally.

Short-term retracement could meet buying interest from trend followers. 14170 is the immediate resistance and the psychological level of 14000 is the closest support.

Further down, 13800 on the 20-day moving average would be a test for the bulls’ commitment.

Orbexhttp://www.orbex.com/en/agent/cl/ccc678cb86b9
At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading.

Featured Analysis

Learn Forex Trading