NDXUSD

The technology index NDX is showing a cautious trend ahead of Fed Chair Powell's speech. Any emphasis by Powell on higher interest rates lasting longer could trigger sales, particularly in interest-sensitive sectors like technology, potentially pulling the index below the 21,150 support level and initiating a decline towards the psychological level of 21,000. If Powell uses an optimistic tone regarding inflation being under control and the possibility of a soft economic landing, it could lead to buying in technology stocks, allowing the index to break the 21,400 resistance and initiate a rise towards the 21,550 levels.