US100 rises above the important limit

Today's session has seen very good sentiment on the equity market. As a result of the positive mood seen during the European session, the main US stock indices started the day above yesterday's closing levels, and the first hours of trading bring a continuation of the upward trend.

The best performing of the US indices is the Nasdaq technology index (US100), which gained over 3%! Looking at the technical situation on the chart, quotations managed to go above the upper limit of the downward channel, which may indicate the end of the last downward correction and return to the main upward trend. At the moment, investors should focus on the resistance zone at the level of 16 430 pts, crossing of which could herald a move towards historical highs (16 730 pts).

US100 breaks out of the downward channel, interval H4. Source: xStation5