US 100 moves sideways, in range, on the H4 chart signaling an accumulation before resuming its growth. The price has decreased a little to test and retest the immediate support levels. The bias is still bullish, so we could still look for buying opportunities.
The US stock index is traded at the 13,632 level above strong downside obstacles. It remains to see how the price will react around these levels.
Technical Analysis!
Nasdaq 100 moves sideways after failing to close above the 13,744 level. Now is pressuring the uptrend line and the weekly pivot point (13,607). A false breakdown or a rejection from this confluence area could bring a new upside momentum.
On the other hand, registering a valid breakdown through the confluence area formed at the intersection between the uptrend line with the weekly pivot could announce a strong sell-off.
Technically, jumping and stabilizing above 13,744.7 resistance could confirm a further upside movement. Actually, we need a bullish closure above 13,777.8 to really validate more gains.
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