Daily Analysis NAS100 - 07 Feb 2023

U.S. Index futures showed instability in Tuesday's early trading, in anticipation of Federal Reserve Chair Jerome Powell's upcoming public speech in Washington D.C. Powell is scheduled to participate in an interview with David Rubenstein, co-founder of the Carlyle Group, at the Economic Club of Washington D.C. at around 17:40 GMT. Investors are generally anticipating Powell to take a strong stance in his remarks, as markets were pleased by his recent indication of disinflation in the economy after the Fed's rate-setting meeting and following Friday's impressive jobs report that showed a growth of 517.000 in payrolls for January.

The Nasdaq 100 index has failed to break above the 12.900 resistance level, leading to a downward move toward its 8-day moving average. It's trying to get strength from here. The 12.290 level could act as a potential support level, while the 12.900 level remains a crucial resistance point.

Support: 12.290 – 11.900 – 11.700

Resistance: 12.900 – 13.150 – 13.500