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NAS 100 Extends Consolidation

US stock markets remain supported thanks to strength among corporate earnings.

The Nasdaq 100 has slowly ground its way up from the 20-day moving average. The price action has once again bounced off the demand zone above 14800.

As the index recoups its previous losses, there is high hope that the rally could resume to new all-time highs. For this, the bulls will need to lift offers around the peak at 15140. Failing that, a pullback towards 14550, a key level on the daily chart would be the path of least resistance.

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