US tech stocks reach 12,000.00

Source: Dukascopy Bank SA


The US tech stocks have declined and passed all support levels, which were described on August 23. At the start of a new month, the index was finding support in the 12,000.00 mark.

An extension of the stock decline might look for support in round levels. Namely, note that the 11,500.00 and 11,000.00 levels acted as support in May, June and July.

On the other hand, a recovery of the index could encounter resistance in previous support levels. Take into account the 12,120.00/12,225.00 zone, the 12,500.00 level, the 50-day SMA near 12,700.00 and the 12,830.00/13,120.00 range.
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Mon, 05 Sep 2022 11:08:42 GMT

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