Daily Analysis NAS100 (19 Jan 2023)

Stock futures in the United States decreased on Thursday as a result of poor economic figures that have sparked concerns of an economic downturn. Additionally, investors are looking forward to hearing from more Federal Reserve officials for insight into the central bank's plan for monetary policy adjustments. Wednesday's data revealed that retail sales, producer prices, and production at American factories all dropped unexpectedly in December and November production was also weaker, raising fears of a decline in the economy.

Technically, the Nasdaq100 index fell sharply below the moving averages, which is not a positive sign for investors who have long positions in the market. The level of 11.690  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 11.130, and in case of further downside, the level of 10.800 is also to be considered.

Support: 11.130 – 10.800 – 10.600

Resistance: 11.690 – 11.900 – 12.050