The Nasdaq 100 pulls back ahead of the Federal Reserve’s June monetary policy meeting.
The breakout above the previous high at 14070 is a confirmation of bullish continuation. The bullish MA cross on the daily chart suggests an acceleration in the rally.
Short-term retracement could meet buying interest from trend followers. 14170 is the immediate resistance and the psychological level of 14000 is the closest support.
Further down, 13800 on the 20-day moving average would be a test for the bulls’ commitment.
