It appears that the Nasdaq 100 Index has the potential to appreciate and strengthen today.

[Ben Graham]

[Nasdaq 100 Index]

Although both EMAs of #NDX are still in a Golden Cross configuration, but with the RSI being in the Neutral-Bearish level may lead #NDX to decline toward its nearest support level.

Key Levels

1. Resistance. 2 : 25556.5

2. Resistance. 1 : 25486.4

3. Pivot : 25361.4

4. Support. 1 : 25291.3

5. Support. 2 : 25166.3

Tactical Scenario:

Negative Reaction Zone: If the price of #NDX breaks down and closes below 25291.3, it may continue its decline to 25166.3.

Momentum Extension Bias: If 25166.3 is broken, #NDX will likely continue to decline down to the level of 25096.2.

Invalidation Level / Bias Revision:

The downside bias is weakened if #NDX strengthens and breaks above 25556.5.

Technical Summary:

EMA(50) : 25277.5

EMA(200): 25055.6

RSI(14) : 36.69

Economic News Release Agenda:

Tonight, the following important economic data will be released from the United States:

US - Final Manufacturing PMI - 21:45 WIB

US - ISM Manufacturing PMI - 22:00 WIB

US - ISM Manufacturing Prices - 22:00 WIB

The material has been provided by InstaForex Company - www.instaforex.com