Daily Analysis NAS100 - 06 Feb 2023

On Monday, the U.S. stock market's future prices dropped as investors await further information from companies' reports being released this week and also eagerly anticipate a speech from the U.S. Federal Reserve Chairman, Jerome Powell. This speech will help determine the future trajectory of interest rate increases made by the central bank.

The Nasdaq 100 index has rejected the 12.900 resistance level and is now moving toward its 8-day moving average. The 12.290 level may serve as a support level while the 12.900 level remains a significant resistance level above.

Support: 12.290 – 11.900 – 11.700

Resistance: 12.900 – 13.150 – 13.500