NDXUSD

image

NDXUSD

The NASDAQ100 index found support as the core consumer price index in the U.S. fell below expectations and the headline inflation showed an annual increase. This situation increased the odds of a Fed rate cut, leading to rises, especially in the technology sectors. Strong performances in semiconductors, communication services, and software contributed to the NASDAQ100's appreciation. Data to be released during the day, such as retail sales and the Philadelphia Fed Manufacturing Index, may cause fluctuations on the index.

Technically, the NASDAQ100 index is trading above the 21200 - 21300 support zone. As long as it remains above this level, there is a possibility for the upward movement to continue, and the resistance levels of 21400 and 21500 could be targeted. However, since the 21500 level is also supported by a descending trend line, the stance at this point should be closely monitored. In an alternative scenario, if the index falls below the 21200 - 21300 support zone, a pullback towards the 21100 and 20975 levels might occur. The RSI indicator is at 45, showing a neutral outlook. The index showed a slight decline of 0.018% compared to the previous day.

Support :

21300 - 21200 - 21100

Resistance :

21400 - 21500 - 21600