US tech index Nasdaq-100 (US100) dropped 2% yesterday. Taking a look at the index from a technical point of view, we can see that price dropped to the important support, where buyers suraced. Support zone at 12,760 pts is marked with previous price reactions as well as the right shoulders of a potential inverse head and shoulders pattern. In case buyers manage to halt declines there, a recovery move and an attack on 13,300 pts resistance may be on the cards. On the other hand, breaking below this support may hint that a bigger downward move is underway. In such a scenario, the next support to watch can be found in the 12,240 pts area.
Source: xStation5
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