Chart of the day – US100
Global stock markets continue to recover from last week’s declines on Tuesday. Following a drop below the 200-period moving average on the H4 interval (green line), US100 has managed to find support at the zone ranging above 12,740 pts. US tech index rallied almost 5% from this area and is now approaching resistance zone at 13,385 pts.
Breaking above it would mean painting a higher high in recent short-term downtrend sequence and could herald a bigger upward move on the horizon. Two key earnings reports from the US tech sector will be released today after the close of Wall Street session – Alphabet (GOOGL.US) and Amazon (AMZN.US). Solid releases could support sentiment towards the sector and provide some fuel for US100 bulls.