Technical Analysis: US100

11:06 AM 23 October 2020
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
Share:
Back

Join over 1 600 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits