The Nasdaq (US100) Chart Technical Outlook posted a strong knee-jerk reaction after Fed’s’ Kashkari put interest rate cuts into question. The bearish engulfing candle in the daily chart has increased downside pressure with all eyes on the US Nonfarm Payrolls due later today. A strong reading would back Kashkari’s words and push the index lower. 17,775 is an important support, below here, 17,300 is next. Resistances are 18,210 (reverse trendline) and 18,445.
