US 100 Cash CFDLong
NAS100 | Currently leans bullish
The price is showing signs of consolidation after a significant recovery, with bullish momentum evident. The recent movements indicate that NAS100 is attempting to retest key resistance levels while holding above critical support zones.
Key Observations:
1. Trend Structure:
• The price is currently trading within an ascending channel or trend, with higher highs and higher lows.
• The bullish momentum is supported by the 50-period (blue) and 200-period (red) moving averages, which are trending upwards and acting as dynamic support.
2. Support and Resistance Levels:
• Resistance:
• 21,750–21,800: The upper boundary of the channel and a strong resistance zone to watch. This level aligns with recent swing highs.
• Support:
• 21,500: A key support level and a recent consolidation area. Holding above this strengthens the bullish case.
• 20,766: A major structural support zone that aligns with a previous low. A break below would signal a potential trend reversal.
3. MACD (Momentum Indicator):
• The MACD is relatively flat, suggesting the market is in consolidation with reduced momentum. A bullish crossover would confirm a continuation higher, while a bearish crossover could signal retracement.
4. Moving Averages:
• The 50-period MA (blue) is close to the current price and acting as a short-term support level.
• The 200-period MA (red) is further below and aligns with the 21,200–21,300 support zone, providing stronger dynamic support for the medium-term trend.
Possible Scenarios:
Bullish Scenario:
• If the price holds above 21,500, the next target is a retest of the 21,750–21,800 resistance zone.
• A breakout above 21,800 could drive the price toward 22,200, the next psychological and structural resistance.
Bearish Scenario:
• If the price fails to hold 21,500, it could drop toward the 21,200–21,300 support zone.
• A break below 21,200 might trigger a deeper correction toward 20,766, aligning with the previous low.
Trading Plan:
1. For Long Trades:
• Entry: Above 21,600, ideally after a retest or breakout with momentum.
• Target: 21,750–21,800 and potentially 22,200.
• Stop Loss: Below 21,500.
2. For Short Trades:
• Entry: Below 21,500 with a clear break and retest.
• Target: 21,300, then 20,766.
• Stop Loss: Above 21,600.
Conclusion:
The market currently leans bullish, but the resistance zone around 21,750–21,800 is critical. A breakout above this level confirms continuation higher, while failure to break could lead to a pullback. Use caution with entries until momentum or volume confirms a direction.
Key Observations:
1. Trend Structure:
• The price is currently trading within an ascending channel or trend, with higher highs and higher lows.
• The bullish momentum is supported by the 50-period (blue) and 200-period (red) moving averages, which are trending upwards and acting as dynamic support.
2. Support and Resistance Levels:
• Resistance:
• 21,750–21,800: The upper boundary of the channel and a strong resistance zone to watch. This level aligns with recent swing highs.
• Support:
• 21,500: A key support level and a recent consolidation area. Holding above this strengthens the bullish case.
• 20,766: A major structural support zone that aligns with a previous low. A break below would signal a potential trend reversal.
3. MACD (Momentum Indicator):
• The MACD is relatively flat, suggesting the market is in consolidation with reduced momentum. A bullish crossover would confirm a continuation higher, while a bearish crossover could signal retracement.
4. Moving Averages:
• The 50-period MA (blue) is close to the current price and acting as a short-term support level.
• The 200-period MA (red) is further below and aligns with the 21,200–21,300 support zone, providing stronger dynamic support for the medium-term trend.
Possible Scenarios:
Bullish Scenario:
• If the price holds above 21,500, the next target is a retest of the 21,750–21,800 resistance zone.
• A breakout above 21,800 could drive the price toward 22,200, the next psychological and structural resistance.
Bearish Scenario:
• If the price fails to hold 21,500, it could drop toward the 21,200–21,300 support zone.
• A break below 21,200 might trigger a deeper correction toward 20,766, aligning with the previous low.
Trading Plan:
1. For Long Trades:
• Entry: Above 21,600, ideally after a retest or breakout with momentum.
• Target: 21,750–21,800 and potentially 22,200.
• Stop Loss: Below 21,500.
2. For Short Trades:
• Entry: Below 21,500 with a clear break and retest.
• Target: 21,300, then 20,766.
• Stop Loss: Above 21,600.
Conclusion:
The market currently leans bullish, but the resistance zone around 21,750–21,800 is critical. A breakout above this level confirms continuation higher, while failure to break could lead to a pullback. Use caution with entries until momentum or volume confirms a direction.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.