NDXUSD

The NASDAQ 100 index continues to remain under pressure due to the rise in the U.S. 10-year treasury bond yields. The limited movements seen in the S&P 500 index also support this situation. One of the key developments of the week, the ISM manufacturing PMI data, and talks by FOMC member Waller could create a new wave of pricing in the markets. The positive start of the Asian markets to the week and stronger-than-expected manufacturing activities in China could increase global risk appetite.

From a technical analysis perspective, the NASDAQ 100 is trying to gain strength above the 20900 – 20785 support zone. Staying above these levels increases the potential to test the 21000 and 21100 resistance levels. The RSI indicator is at level 52, showing a neutral outlook. With a 0.03% decrease compared to the previous day, it is critically important for the index to maintain lasting movements above the 21000 level for the upward movements to continue. Otherwise, with the activation of the negative scenario, the levels of 20680 and 20500 may come into focus.