The US Tech 100 is displaying strong bullish momentum after successfully breaking above the critical resistance level at 20,659.8, which had previously acted as a significant barrier. Currently trading at 21,316 the index has demonstrated impressive upward trajectory following what appears to be a healthy consolidation phase around the key resistance-turned-support zone. The technical setup strongly favors continuation to the upside as the higher probability scenario, with the breakout above 20,659.8 potentially opening the door for further gains toward higher resistance levels. However, prudent risk management suggests taking this rally piece by piece, monitoring how price action develops at each significant level while watching for any signs of exhaustion or pullback that might offer better entry opportunities. The bullish bias remains intact as long as the index maintains its position above the former resistance level, which should now serve as dynamic support for any potential retracements.
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Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.