Daily Analysis NAS100 - 17 Feb 2023
Latest News: Friday morning saw a drop in U.S. stock futures as investors leaned towards a cautious approach, with tech stocks displaying weaker performance. The rise in bond yields and a stronger dollar contributed to this continued risk-off tone in the market, prompting investors to be wary ahead of the market open.
Technical Analysis: The Nasdaq100 index is currently experiencing a decline and has broken its upward trend, now heading towards its 21-day moving average. If the index reacts around this point, it is recommended to observe the 12.450 level as a potential resistance point. Conversely, if the decline persists, the 12.290 level may serve as a support level for the index.
Support: 12.290 – 12.110 – 11.900 Resistance: 12.450 – 12.575 – 12.750