Daily Analysis NAS100 (05 Jan 2023)

The Nasdaq100 futures are slightly positive before the opening today. Investors in the S&P 500 and NASDAQ indices had a positive reaction when Federal Reserve officials announced that they would continue to increase interest rates, albeit at a slower pace. ADP Nonfarm Employment Change and Initial Jobless Claims reports will shape today’s direction.

Technically, 10.820 – 10.650 regions stand out as a strong support.If it does not make a new low, it can strengthen its upward movement by getting support from these regions for the third time and go up to 11.215 level (21-DMA) and then 11.400 level (50-DMA).

Support: 10.820 – 10.650 – 10.400

Resistance: 11.070 – 11.215 – 11.400