NDXUSD

The nomination of Scott Bessent for the Treasury Department by U.S. President Donald Trump has led to positive pricing in the NASDAQ100 index. Bessent is expected to adopt a more measured approach to tariffs and customs duties with Trump. Additionally, the weakening of U.S. 10-year bond yields is increasing risk appetite in the markets, contributing to the index's upward movement. Optimistic sentiment prevails in Asian markets as well, while economic data from the U.S. and the Eurozone and the FOMC meeting minutes are being closely monitored.

From a technical analysis perspective, the NASDAQ100 index is trading above the 21-period exponential moving average at the 20802 level on the 4-hour chart. Staying above the 20785 – 20900 support zone could create a space for an upward move. In this case, the 21000 and 21100 resistance levels may be observed. However, in a potential downside scenario, the 20680 and 20500 support levels could be significant. The RSI indicator is at 57 and showing a positive outlook, indicating that the current upward trend might continue. The index supports this trend by gaining 0.48% compared to the previous day.