HomeContributorsTechnical AnalysisNasdaq 100 Bounces Higher

Nasdaq 100 Bounces Higher

The Nasdaq 100 popped higher after data showed that US inflation might have reversed its course. A break above 11280 prompted sellers to cover their positions, easing the downward pressure. After the index had a secure footing over 11030, the subsequent rally suggests that the bulls have taken over. A whipsaw above 11230 indicates solid support as buyers were fast to keep the price action afloat. The start of the liquidation back in mid-December at 11830 could be the next target when momentum buyers get involved.

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