NDXUSD

The NASDAQ100 Index eased some of its pressure on the first trading day of 2025 as the US 10-year Treasury yield retreated. The index started the new year at the level of 21312 and is trading at 21319 on a day economic data such as unemployment benefit applications are monitored. Negative economic data from China and developments in US-China trade relations are bringing sales to Asian markets, while US index futures are preparing to start the day with limited gains. In the US, domestic security issues, along with today’s manufacturing activity figures and unemployment claims data, may impact the market.

Technically, the NASDAQ100 continues to trade below the resistance zone of 21500-21600. Unless this zone, supported by short-term moving averages, is surpassed, the downtrend may continue. If the downward movements persist, support levels of 21300 and 21200 should be monitored. For the index to gain upward momentum, sustained pricing above the 21500-21600 range may be required. If this zone is breached, upward movements towards the levels of 21700 and 21800 could be seen. The RSI indicator, on the other hand, shows a negative trend at around 41, indicating that the downward pressure may continue. The index has experienced a 0.70% decrease compared to the previous day.