Daily Analysis NAS100 - 22 Feb 2023

Latest News: On Wednesday, it's expected that U.S. stocks will open without significant changes following a steep decline in the previous session. Investors are eagerly anticipating the release of the latest Federal Reserve minutes in hopes of gaining insight into the central bank's potential plans for increasing interest rates.

Technical Analysis: The Nasdaq 100 index exhibited bearish momentum following upbeat economic figures from the US. Currently trading below its 8 and 21-day moving averages, the index is seeking potential support around the 12.010 level. Conversely, the 12.230 level may serve as a notable resistance level for the index. The release of the Fed minutes may trigger heightened volatility, leading to potential price fluctuations in either direction.

Support: 12.010 – 11.900 – 11.690        Resistance: 12.230 – 12.420 – 12.700