Daily Analysis NAS100 (17 Jan 2023)

Nasdaq100 futures are stable today. Bond prices in the Treasury market have decreased, causing the yield curve to become steeper. The value of the dollar is fluctuating between increases and decreases, and the price of gold has decreased. From a worldwide standpoint, the Managing Director of the International Monetary Fund, Kristalina Georgieva, has stated that the rate of global economic growth will certainly decelerate this year. The organization's projection for expansion is approximately 0.5% lower than it was for the previous year. Nevertheless, the Managing Director has also noted that she does not anticipate the need to further reduce the forecast and that an improvement is anticipated in 2024.

Technically, The Nasdaq100 Technology Index appears to have surged above its moving averages. If it can maintain this level, it may continue to rise. The level of 11.750 is a key resistance that should be watched in the short term, while the levels of 11.900 and 12.050 are the next resistances. The support level is at 11.400, and in case of further downside, the level of 11.100 is also to be considered.

Support: 11.400 – 11.100– 10.800

Resistance: 11.750 – 11.900 – 12.050