NDXUSD

While US stock markets experienced their longest decline since the beginning of the year, the Nasdaq index led the decline with a loss of over 1%. While the weakness in orders from semiconductor supplier ASML Holding and the loss of nearly 4% in Nvidia, which has high index weight, were the catalysts for the pullback in stock markets, the interest rate cuts postponed due to the stubborn course of US inflation are also among the main reasons for the decline in stock markets. When we technically examine the short-term pricing of the Nasdaq index futures contract, we follow the 17700 -17800 region. As long as the index is below the relevant region, negative expectations are at the forefront. In the continuation of the decline, the 17500 - 17400 levels can be followed as support. For positive expectations, the index can be expected to remain above the 17700 level. If the 17600 level works as support, upward recoveries towards the 17700 - 17800 levels can be observed. Support: 17500 - 17400 Resistance: 17700 - 17800