NAS100 - Will the long term support hold?

FX:NAS100   NASDAQ 100 Index
Looking at NAS on the daily, price is approaching a trend line that has been well respected over the past year, along with RSI reaching towards the oversold territory, and the MACD already deep under; from a technical perspective, 12950/13000 could be a great price to enter a long position for a medium term trade. However, the key fundamental factor driving NAS lower recently ( inflation fears - and rightfully too) should certainly be a cause for concern and could continue to push NAS lower to some key areas (12700 / 12200 / 11000 - maybe a little exaggeration here).

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