Nasdaq 100 to remain capped at key price and retracement resistance at 12856/81 – Credit Suisse Nasdaq Equities Banks
Nasdaq 100 strength has extended. However, economists at Credit Suisse expect the index to move back lower from the 12856/81 resistance zone.“We continue to look for the key resistance from the 38.2% retracement of the 2021/22 fall and YTD high at 12856/81 to cap to define the top of a broad range.”
“A weekly close above 12856/81 would instead suggest a more meaningful move higher can emerge for resistance next at the 50% retracement and summer 2022 high at 13603/721.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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