The moods in the stock market clearly improved after the opening of the US session. When looking at the US Nasdaq (US100) from a technical point of view, one can see that the classic inverted head and shoulders pattern is building up on the H1 interval. Nevertheless, an uptrend signal will be generated when the price returns above the key resistance zone at 12,730 pts. Should a break higher occur, then next resistance is located at 12,890 pts and is marked with upper limit of the 1: 1 structure and the 200 SMA.
US100, H1 interval. Source: xStation5
