US Tech Stocks traded below 11,000.00

Source: Dukascopy Bank SA


The US tech stock index has reached below the June low level, as it traded at 10,860.00 at the start of October. However, the reaching of a new low level was followed by a recovery.

An extension of the ongoing recovery is expected to encounter resistance in the mid-September support and resistance zone that surrounds the 12,000.00 mark. Higher above, note the 50-day simple moving average near 12,300.00. Afterwards, the 200-day SMA and the zone at 13,000.00 might stop a surge.

Meanwhile, a potential resumption of the decline is set to find support in the 11,000.00 mark and the recent low level at 10,860.00.
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