Although at the end of last week there was some nervousness in the stock market, today it seems that everything is back to “normal”. US indices launched today’s session higher as overseas investors are enjoying the positive mood we saw during the European session. Looking at the Nasdaq contract (US 100) from a technical point of view, price bounced off the support at 12,750 pts. This area is marked with 61.8% Fibonacci retracement and earlier price reactions, as well as the upward trendline. Currently, the US100 is trading above 1,3100 pts level. If current sentiment prevails and price will move higher (and the current momentum indicates that this may be the case), the road towards the resistance at 13,400 pts will be opened.
US100 interval H4. Source: xStation5
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