05.02.202608:29 Forex Analysis & Reviews: Nasdaq 100 Index still has the potential to continue its weakening bias today.

Relevance up to 21:00 UTC--5

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[Nasdaq 100 Index]

The Death Cross intersection of the two EMAs of #NDX gives an indication that in the near future there is a chance of continuing its weakening today.

Key Levels

1. Resistance. 2 : 25756.0

2. Resistance. 1 : 25380.7

3. Pivot : 25025.8

4. Support. 1 : 24650.5

5. Support. 2 : 24295.6

Tactical Scenario

Pressure Zone: If #NDX breaks down below 25025.8, there is potential for continued pressure toward 24650.5.

Momentum Extension Bias: If 24650.5 is broken to the downside, Nasdaq 100 could extend its decline to 24295.6.

Invalidation Level / Bias Revision

The downside bias is restrained if #NDX strengthens and breaks above 25756.0.

Technical Summary

EMA(50) : 25143.8

EMA(200): 25452.5

RSI(14) : 48.50

Economic News Release Schedule:

Tonight the United States will release the following economic data:

US - Challenger Job Cuts y/y 19:30 WIB

US - Unemployment Claims - 20:30 WIB

US - JOLTS Job Openings - 22:00 WIB

US - Natural Gas Storage - 22:30 WIB

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