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NAS 100 Awaits More Catalyst

The Nasdaq 100 steadies as traders await November’s reading on the US labour market. On the daily chart, the index has found solid support over the 20-day moving average (11500) next to the previous double top from October. The surge in conjunction with a bullish MA cross shows that the recovery could be speeding up towards 12300. But before that, the RSI’s overbought situation means that the price could use some breathing room after a vertical ascent. 11850 is the immediate support and 11650 a key demand zone.

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