A pullback could be observed yesterday on the Nasdaq-100 index (US100). However, sell-off was quickly halted at an important technical support. Taking a look at the chart at H4 interval, we can see that demand-side reaction occurred in the 16,440 pts area, that acted as an important resistance earlier. However, following a break above, it became a support. The area is additionally strengthened by the lower limit of the local market geometry (purple box). Defending the area and launching an upward impulse from here may hint that uptrend remains in play. Economic calendar for today is empty but volatility may pick-up in the evening once news from the Biden-Putin virtual meeting hits the markets.
Source: xStation5
