NDXUSD

The NASDAQ100 index is experiencing a calm trajectory as movements in the technology sector are limited following Nvidia's financial results, and the 10-year bond yield remains elevated. While interest in cyclical stocks is expected to increase, the index maintains its composure. Leading service and manufacturing PMI data can be monitored throughout the day. The mixed trend in Asian markets and rising geopolitical risks are affecting gold and the dollar. Meanwhile, PMI data in the US and Europe may provide significant insights into economic activity.

Technically, the NASDAQ100 index is trading above the 20680 – 20785 area, supported by the 21-period exponential moving average on the 4-hour time frame. As long as it remains above this area, the index has the possibility of testing resistance levels at 20900 and 21000. However, for a bearish expectation, the index might need to dip below the 20680 – 20785 support zone and close below it on a 4-hour basis. In this scenario, a pullback towards the 20500 and 20375 levels could come into play. The RSI indicator is at level 52, presenting a neutral market outlook. The index has increased by 0.013% compared to the previous day.