Nasdaq 100: A meaningful move higher can emerge toward resistance at 13603/721 – Credit Suisse Nasdaq Equities Banks
Nasdaq 100 ended Q1 strongly. Analysts at Credit Suisse look for further strength to the 50% retracement at 13606/721.“A more meaningful move higher can emerge for resistance next at the 50% retracement and summer 2022 high at 13603/721. Our bias would be to then look for a fresh cap here and for a correction lower and fresh consolidation phase. Should strength directly extend though, we would see resistance next at the 61.8% retracement and price resistance at 14277/349.
“Below support at 12518 is needed to suggest we have seen a ‘false’ break higher for a slide back to support next at the 63-Day Moving Average, currently at 12128.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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