US markets finished lower on Monday, with technology shares leading the decline. Meta (-5.14%), Alphabet (-2.85%) and Tesla (-1.73%) were among the worst performers in the Nasdaq 100 index. Investors mulled a much stronger-than-expected US jobs report on Friday, which may spur inflation concerns and urge the Fed to tighten monetary policy at an accelerated pace.
From the overview of price in NAS100, we could see that price has changed its overall bias to the upside. Price is currently retesting the support zone between 14590 and 14390 forming a likely reversal pattern in the form of a head and shoulder. The RSI and MACD are within the centreline and we may see price push to the upside.
From the overall direction of price on the daily timeframe, we could see that price has recently broken a high and a resistance level to become support between 0.84112 and 0.83908 to change it bias to the bullish direction. Price may likely retest the support level and the 50 EMA before moving to the upside. The RSI is above the centreline which signifies an upward move.
From the overview of price in DOTUSD we could see that price is still bearish after a bullish rise. Price is within the support level between 25.5496 and 23.5227 which is in confluence with the downward trendline and the 50 EMA. We could also see that the RSI and MACD are within the centreline which signifies a possible move of price to the downside after a proper retest.