11 days ago • Posted by Paul de La Baume
#Nasdaq100 at major support level #technicals #trading #tech
The tech-heavy Nasdaq100 indice has fallen significantly, about 25% lower year-to-date, after a significant reversal in risk assets pressured by higher Treasuries yields and a re-pricing of lower growth from lockdowns in China, and the supply-chain crisis worsened by the war in Ukraine. On a technical level, the support level is 12’200 and if it breaches this level, it could likely continue its downtrend lower. However, there are good chances the indice consolidates from here as it has already fallen significantly. It remains to be seen and volatility should remain elevated.