The Nasdaq is trading around 12,592, key resistance above at 12,673. The rescue of Credit Suisse may have raised investor confidence.

The Nasdaq is currently trading at around 12,592. From a technical aspect on the 1-hour timeframe, the index is in a bullish stance with resistance sat at 12,610 then at 12,631 then a key level at 12,673. A break above 12,673 could see the Nasdaq climb beyond 12,700, reaching as high as 12,750. Especially after investors have gained slight confidence by the rescue of Credit Suisse over the last couple days. As the bullish momentum is in play at this moment in time, a slight retracement may occur before potentially edging higher. Therefore, we can see there is support along the green ascending trendline and the white horizontal trendline. On the white trendline the support lies at 12,555, a break below this would test support at 12,545 which corresponds more with the green trendline. Both the MACD and the RSI are suggesting positive, with RSI reading 59.