Nas100 could lose support
So far, this year has been an incredible one for Nas100, with the index rising more than 50%.
However, after the mid-July top, Nas100 has started to roll back down and we already have 4 touches of support zones in only 6 weeks.
As we know, the more a support or resistance is touched the weaker it becomes, and, in my opinion, we are close to a down break.
A daily close under 15100 could be considered a valid break and, in this instance, correction from the top could continue with around 1k points as a target.
Nas100 back above 15600 would negate this bearish scenario
However, after the mid-July top, Nas100 has started to roll back down and we already have 4 touches of support zones in only 6 weeks.
As we know, the more a support or resistance is touched the weaker it becomes, and, in my opinion, we are close to a down break.
A daily close under 15100 could be considered a valid break and, in this instance, correction from the top could continue with around 1k points as a target.
Nas100 back above 15600 would negate this bearish scenario
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