Daily Analysis NAS100 (25 Jan 2023)

The stock futures of the United States decreased during Wednesday's initial trading session, following Microsoft's announcement of their earnings forecast which negatively impacted the prospects for technology stocks and had a generally negative effect on the overall market. Additionally, Tesla is going to announce their earnings results after the stock market closes for the day.

Recently, the Nasdaq100 index broke away from a downward trend and began to rise. However, it is heading back toward the level of the trend it broke yesterday. The 11.600 level is being closely watched as a key support level. Despite today's significant drop, it is still trading above its major moving averages. In the short term, it is crucial for the bulls that the index remains above the 8-day moving average. Additionally, it will be important to keep an eye on support at 11.600, and in case of further decline, 11.250 could also be a point of concern.

Support: 11.600 – 11.250 – 10.800

Resistance: 11.930 – 12.050 – 12.200