POST CPI : Nasdaq 100 holding on to gains 📈

Hello, good day traders! 👋🤙

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📰Fundamentally,

Today's Stock Market: Indices Hold Gains Following CPI Data

Markets rose at the open on Tuesday after the latest CPI data showed that inflation had slowed.

The latest Consumer Price Inflation (CPI) data from the United States Bureau of Labor Statistics showed that inflation slowed to 0.1% on a seasonally adjusted basis in November, lower than estimates of 0.3% after a 0.4% increase in October. Overall, the CPI index for all items rose 7.1% in the previous year, exceeding expectations of 7.3%.

🤔On the technical front,

1.) Looking at the H4 chart with price above the Ichimoku cloud it indicates a bullish market, I am looking for a buy entry at 11710.26, where the 38.2% Fibonacci line is.

2.) Stop loss will be at 11431.96, where the previous swing low is.

3.) I intend to take a profit at 12415.15, slightly below where the 61.8% Golden Fibonacci ratio is located.

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Buy Entry: 11710.26📈

Take Profit: 12415.15 💲

Stop Loss: 11431.96❌

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