Daily Analysis NAS100 - 06 Mar 2023

Latest News: It is expected that U.S. stocks will start Monday's trading session with a slight decrease, as investors take a breather after last week's market gains. Additionally, they are awaiting the monthly jobs report and testimony from the Federal Reserve chief, Jerome Powell, to Congress, both of which are highly anticipated.

Technical Analysis: The Nasdaq100 index has exhibited a bullish breakout, piercing through a bearish trendline that had formed since February. Presently, the index is displaying high volatility around the 21-day moving average, suggesting a period of consolidation. A resistance level of 12.350 could impede further upward momentum, while a support level of 12.175 may buffer any potential downward retracements.

Support: 12.175 – 12.100 – 11.900        Resistance: 12.350 – 12.425 – 12.750