Nasdaq100 Chart Technical Outlook(US100) corrects from 261.8% but dips are being bought, Although we have seen a correction to the downside close to the 261.8% extension level of 15,077, the dip has been bought close to our bespoke support level of 14,905. This has resulted in the immediate bias being hard to establish.
A breach of the resistance zone (15,077-15,106) and the next upside barrier is located at 15,178. This does not formulate a good risk-reward setup.
A breach of the 14,905 support and downside barriers is located at 14,752.
Or they expect price action to remain mixed and volatile.