The Nasdaq 100 Index has the potential to strengthen to its nearest Resistance level today. Thursday, January 22, 2025

[Ben Graham]

Nasdaq Index 100

Even though the two EMAs have not yet crossed the Golden Cross, the price movement is already above the EMA(50) and EMA(200) followed by the RSI(14) which is at the Neutral Bullish level so that it has the potential to bring #NDX to strengthen towards its nearest Resistance in the near future.

Key Levels

1. Resistance. 2 : 25860.3

2. Resistance. 1 : 25602.5

3. Pivot : 25234.2

4. Support. 1 : 24976.4

5. Support. 2 : 24608.1

Tactical Scenario

Positive Reaction Zone: If the price holds at 25,234.2, #NDX may move up toward 25,602.5.

Momentum Extension Bias: If 25,602.5 is broken to the upside, #NDX could test 25,860.3.

Invalidation Level / Bias Revision

The upside bias weakens if #NDX falls below 24,608.1.

Technical Summary

EMA(50) : 25215.5

EMA(200): 25263.8

RSI(14) : 62.73

Economic News Release Agenda:

Tonight the United States will release the following economic data:

US - Final GDP q/q - 20:30 WIB

US- Unemployment Claims - 20:30 WIB

US - Final GDP Price Index q/q - 20:30 WIB

US - Core PCE Price Index m/m - 22:00 WIB

US - Personal Income m/m - 22:00 WIB

US - Personal Spending m/m - 22:00 WIB

US - Natural Gas Storage - 22:30 WIB

US - Crude Oil Inventories - 00:00 WIB

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