Fri, Aug 19, 2022 @ 13:39 GMT
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US 100 Revisits Major Support

The Nasdaq 100 faltered after an unexpected rise in US initial jobless claims. The tech index bounced off the demand zone around 15200 which used to be a resistance on the daily chart.

A bullish divergence revealed a slowdown in the sell-off momentum. The latest break above 15820 prompted some sellers to cover but came under pressure at 15980.

After intraday traders took profit, 15200 is a critical support to keep the rebound relevant. A deeper correction would send the price to 14900.

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