Technical Analysis: US100

US stocks started yesterday's session with declines. Nevertheless, the Nasdaq index (US100) bounced off the key support zone at 11,550 points. The activity of buyers in this area may indicate the completion of the simple ABC correction and the return of the bulls. If buyers will manage to break above the local downward channel marked in red, the upward movement may become stronger. In such a scenario, an upward impulse towards 12,000 pts could be launched. However, if the aforementioned level 11,550 pts will be negated, the declines could deepen.

US100 interval H4. Source: xStation5

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.