The NAS100 (US100) just tapped a key supply zone around 21,250, showing strong signs of overhead resistance. This is the same area that previously triggered sharp rejections – and we’re back there again.
What I'm watching:
Price Action is currently reacting to a visible supply zone (highlighted in blue).
If the market fails to break above 21,250, I expect a potential rejection leading to:
First support zone: 17,064
Second deeper target: 12,588 (strong demand zone highlighted in orange).
Bearish Outlook Triggers:
Daily close below 20,900
Increased sell volume at resistance
Failure to form higher highs
Bullish Invalidator:
Clean breakout and retest above 21,250 with momentum
My Plan:
Watching for short signals near resistance with tight SL above 21,400. TP zones set around 17k and 12.5k if weakness confirms.
Technical Confluence:
Previous highs acting as resistance
Supply & demand zones (LuxAlgo VR)
Bearish divergence forming on RSI (not shown here but visible on lower TFs)
What do you think? Will NAS100 break out or is a deep correction coming?
#US100 #NASDAQ #Indices #PriceAction #SupplyAndDemand #LuxAlgo #TradingStrategy #ReversalSetup #SmartMoney #BearishBias
What I'm watching:
Price Action is currently reacting to a visible supply zone (highlighted in blue).
If the market fails to break above 21,250, I expect a potential rejection leading to:
First support zone: 17,064
Second deeper target: 12,588 (strong demand zone highlighted in orange).
Bearish Outlook Triggers:
Daily close below 20,900
Increased sell volume at resistance
Failure to form higher highs
Bullish Invalidator:
Clean breakout and retest above 21,250 with momentum
My Plan:
Watching for short signals near resistance with tight SL above 21,400. TP zones set around 17k and 12.5k if weakness confirms.
Technical Confluence:
Previous highs acting as resistance
Supply & demand zones (LuxAlgo VR)
Bearish divergence forming on RSI (not shown here but visible on lower TFs)
What do you think? Will NAS100 break out or is a deep correction coming?
#US100 #NASDAQ #Indices #PriceAction #SupplyAndDemand #LuxAlgo #TradingStrategy #ReversalSetup #SmartMoney #BearishBias
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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.