Short term view - NASDAQ 100 : The moving average is capping prices.
The trend is momentarily interrupted by a consolidation on a shorter time horizon but prices remain below the invalidation level at 7,311.850 pts. It can resume at anytime towards the target at 6,433.210 pts.Arguments :
- The support has been breached.
- Prices are pulling back to the major resistance level (previously a support). The fall will resume afterwards.
- The 62% retracement is causing the bounce.
- The moving average is capping prices.
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