Nvidia stumbles to test 200 MA post earningsNVIDIA CorporationBATS:NVDAFOREXcomWill the dip buyers emerge here? US markets continue to remain on the back foot, with the tech sector in sharp focus after Nvidia’s earnings. The chip giant initially climbed over 1% in pre-market trading but swiftly reversed, dropping 4% as investors reacted to results that, while decent, failed to dazzle. With chipmakers driving market volatility and concerns mounting over US-China tech tensions, Nvidia’s performance today could set the tone for the sector. Adding to uncertainty, Donald Trump reignited trade war fears, announcing that tariffs on Mexico, Canada, and China will take effect on 4 March. Let's see if Nvidia dip-buyers will emerge to defend the 200-day MA around $126 area, or whether we will see further weakness heading into the close. Next key levels to watch include $120.00 and $115.00. Wednesday's low of $128.50 is now the key resistance level to watch. It would be a bullish scenario if we go back above this level now. On a macro front, attention turns to Friday’s Core PCE data following weak economic reports, including a 4.6% slump in pending home sales and rising jobless claims. Next week we have ISM PMIs and NFP jobs report, as well as a rate decision from the ECB, all to look forward to. By Fawad Razaqzada, market analyst with FOREX.com