NDXUSD

The FOMC meeting minutes reveal that members have confidence in the reduction of inflation and the strength of the labor market, while exhibiting a cautious approach toward interest rate cuts. This situation supports the expectation of a 25 basis point rate cut in December and contributes to the limited upward movements of the NASDAQ100. The Conference Board consumer confidence data during the day and the FOMC meeting minutes can be monitored as important data that may create potential volatility in the markets.

From a technical standpoint, the NASDAQ100 index is trading above the 20785 – 20900 zone supported by the 21-period exponential moving average at the 20802 level on the 4-hour chart. Sustenance above this zone is important for the continuation of the upward trend. In upward movements, the 21000 and 21100 levels may present resistance. The RSI indicator is at the 50 level, indicating a neutral outlook. The index has declined by 0.11% compared to the previous day. In case of breaks below the 20785 – 20900 zone, the 20680 and 20500 levels can stand out as support.