There is potential weakness on the Nasdaq 100 Index today.

[Ben Graham]

[Nasdaq 100 Index]

Although a Bullish Divergence has appeared on the RSI(14), but the RSI is still in the Neutral-Bearish zone, and both EMAs are in a Death Cross configuration, suggesting that the Nasdaq 100 Index has the potential to weaken today.

Key Levels

1. Resistance. 2 : 25474.6

2. Resistance. 1 : 25083.8

3. Pivot : 24885.1

4. Support. 1 : 24464.3

5. Support. 2 : 24235.6

Tactical Scenario:

Pressure Zone: If the price breaks down below 24464.3, there is potential for a continuation to 24235.6.

Momentum Extension Bias: If 24235.6 is broken, there is an opportunity to test 23844.8.

Invalidation Level / Bias Revision:

The upside bias is restrained if the price of #NDX breaks above 25474.6.

Technical Summary:

EMA(50) : 24869.5

EMA(200): 25116.6

RSI(14) : 41.66 + Bullish Divergent

Economic News Release Agenda:

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

US - CPI y/y - 20:30 WIB

US - Unemployment Claims - 20:30 WIB

US - Philly Fed Manufacturing Index - 20:30 WIB

US - Natural Gas Storage - 20:30 WIB

US - TIC Long-Term Purchases - 04:00 WIB

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