US100 Is Stable Between the 50-Day and 100-Day Moving Averages!Nasdaq 100 SPOTCFI:US100CFIThe Nasdaq index is currently trading between the support provided by the 100-day moving average and the resistance represented by the 50-day moving average, as shown on the attached chart. The chart also highlights the importance of the levels around 28,850 as a current support area, from which prices recorded a positive rebound at the end of last June. Meanwhile, levels around 30,300 remain an important resistance zone that prices have attempted to break above on several previous occasions. Despite the Nasdaq rising by approximately 0.58% in yesterday’s session, it is still posting weekly losses of around 0.45%. The key question now is: What factors could influence the Nasdaq’s movement in the current period and going forward? Investors are awaiting the financial results of Nvidia, the world’s largest technology company by market capitalization, due after the market closes today. Declining oil prices and lower government bond yields have helped support the Nasdaq. The semiconductor sector is recovering from the selling wave that negatively affected the sector in the previous period. Investors are awaiting today’s Personal Consumption Expenditures (PCE) data, as well as the Federal Reserve Chair’s speech at the Jackson Hole Economic Symposium. Developments in geopolitical negotiations and their potential impact on oil prices remain another key factor. So, will all these developments help support the Nasdaq and allow it to target the key resistance level near 30,300, or will they instead put pressure on the index and lead to a break below the 28,850 support level?