Watch These Nasdaq 100 Futures Levels Amid Global Stock Markets Rout

Nasdaq 100 futures (NQ1!) were much than 4% little connected Monday greeting amid a world equities selloff aft weaker-than-expected U.S. employment data connected Friday renewed fears of a recession successful nan world’s largest economy.

Japan’s Nikkei Index besides weighed connected investor sentiment early Monday aft it plummeted much than 12% to grounds its largest azygous time percent diminution since 1987’s Black Monday banal marketplace crash.

Nasdaq 100 futures person slumped astir 15% from their grounds adjacent past month, officially entering correction territory, arsenic investors proceed to offload shares successful large-cap tech stocks amid macroeconomic uncertainty and caller downbeat guidance from assemblage giants Amazon (AMZN) and Intel (INTC).

Below, we return a person look astatine nan Nasdaq 100 futures floor plan and usage technical analysis to constituent retired important value levels to watch retired for amid nan sell-off.

200-Day Moving Average successful Play

Since a bearish engulfing pattern marked their grounds precocious connected July 11, Nasdaq 100 futures person staged a crisp reversal, pinch nan value presently trading astir nan intimately watched 200-day moving average.

Monitor These Key Price Levels Amid Selloff

Amid nan index's correction, investors should show 3 cardinal value levels wherever bargain hunters whitethorn activity retired buying opportunities.

The first sits astir 17,150, an area connected nan floor plan that will apt brushwood support from a horizontal line linking nan December 2023 swing high and April plaything low, 2 salient value points that formed arsenic portion of nan broader uptrend betwixt January past twelvemonth and past month’s grounds high. It’s besides worthy pointing retired that nan relative spot scale (RSI) has moved into oversold territory beneath nan 30 threshold, expanding nan chances of a bounce astatine this level.

The adjacent little area to watch lies astatine 16,100, wherever nan futures could pull buying liking adjacent nan July and November 2023 peaks, a location that whitethorn flip from providing anterior resistance to early support.

Finally, a much important downturn could spot nan futures revisit 15,400, wherever they would apt find support from a trendline connecting aggregate peaks and troughs during a rangebound play from June to October past year. Such a move represents a diminution of astir 13% from existent prices.

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