The US tech index Nasdaq (US100) has a clear problem with the continuation of the uptrend. Looking at the H4 interval, the zone at 14,050 points, where sellers appeared several times, remains the key resistance. In the near term, however, the level of 13 750 points should be noted. Last week, buyers managed to break above, but the upward momentum faded away and the index pulled back below, which may indicate a deepening of the downward correction.
On the other hand, buyers defended the support at 13,380 points last week. This zone is marked with the lower limit of the 1:1 structure and the 38.2% Fibonacci retracement. According to the Overbalance methodology, as long as the index sits above this level, further upward impulse is possible. However, a break below would open the way towards larger declines.
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US100 interval H4. Source: xStation5
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