The Nasdaq 100 sees a short-term uptrend. As reported by economists Societe Generalethe index could reach the previous gap levels of 1.3075/1.3210 and perhaps even the high of 1.3720 reached last August.
To previous gap levels at 1.3075/1.3210
“The Nasdaq 100 has seen a golden cross, meaning the 50 DMA has crossed above the 200 DMA, this usually highlights further gains.”
“The daily MACD has diverged positively and has now settled above the equilibrium line, indicating a predominance of bullish momentum.”
“Index is expected to gradually rally towards previous gapped levels at 1.3075/13210 and perhaps even last August’s high of 1.3720” “Defending the 200 DMA near 1.1900 would be crucial for persistence in the move bullish”.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.