Nasdaq 100: A meaningful move higher can emerge toward resistance at 13603/721 – Credit Suisse
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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.”
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