Daily Analysis NAS100 (23 Jan 2023)

Nasdaq100 Index Futures in the United States is expected to have a positive start on Monday as investors prepare for a busy week of company earnings reports and consider the potential actions of the Federal Reserve before their meeting later in the month.

Technically, the Nasdaq100 index is trading above the major moving averages except for 200-DMA. Backed by the bullish momentum, it turned its direction up after the triple bottom formation. In the short term, it will be important to keep an eye on the resistance level at 11.690, as well as the subsequent resistance levels at 11.900 and 12.050. Additionally, the support level at 11.450 should be monitored, and in the event of further decline, the level of 11.170 could also be a point of concern.

Support: 11.450 – 11.170 – 10.800

Resistance: 11.690 – 11.900 – 12.050