Thu, Jul 29, 2021 @ 12:48 GMT
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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.

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