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US Tech: Is the upward momentum sustainable?

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On 11/12/2021 at 20:38, YEW_Trade said:

The price pattern indicates a disruption of the upward momentum. 
Will it continue? I doubt it will without a huge correction. 


Hi @YEW_Trade

Thanks for sharing your analysis on US Tech 100.


The Nasdaq 100 continues to lag behind the S&P and Dow, and that may continue to be the case as the index struggles around the top of a rising bullish channel. Twice last month the NDX found problems just after arching over the top of the channel. If further weakness sets in watch for a gap-fill down to 15846, this could provide some support.


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Nasdaq 100 Chart by Tradingview

Written by Paul Robinson, Market Analyst, 11th December 2021. DailyFX



Nasdaq 100 may struggle to climb around resistance. Inflation data has traders eyeing the Fed and its balance sheet next.


All the best - MongiIG

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