The Nasdaq 100 has bounced back from last week’s interim lows, recovering levels last seen in October and signaling weakening downward momentum, according to Société Générale’s FX strategy team.
Index Nears 50-Day Moving Average and Channel Resistance
Analysts noted that the index found support around 23,970–23,850 points, then quickly reversed higher. This rebound suggests sellers are losing strength. The Nasdaq 100 is now testing its 50-day moving average and moving toward the upper boundary of a descending channel.
While a short-term rebound appears possible, Société Générale warns that the recent lower high at 25,650 points may act as a significant barrier. Failure to break above this level could leave the index vulnerable to resuming its pullback.
