Daily Analysis NAS100 - 14 Feb 2023

Latest News: U.S. stock futures saw a minor rise in early trading on Tuesday, as Wall Street awaited a vital inflation report that could influence the Federal Reserve's interest rate decisions. Based on Bloomberg's consensus estimates, economists are expecting a 6.2% boost in headline CPI from the same period last year, with projections also indicating a 0.5% increase in CPI from the previous month.

Technical Analysis: The Nasdaq index has recently breached its 8-day moving average following a bullish bounce from its upward trendline support. Today's release of the pivotal inflation data may cause heightened market volatility, with potential price swings in both directions. Resistance is observed at the key level of 12.630, while support is identified at the 12.200 level.

Support: 12.200 – 11.900 – 11.600

Resistance: 12.630 – 12.750 – 12.900