The NAS100 has just broken into a major supply zone around 20,139 – 20,470, previously tested in late April and early May. This zone has historically triggered sell-offs, as seen from the previous price reactions.
Key Levels:
Resistance Zone: 20,139 – 20,470 (Visible Supply Zone)
Mid Support: 18,830 (Strong bounce level in April)
Demand Zone: 16,948 – 17,300 (Price base with historical accumulation)
What I'm Watching:
If bulls break and hold above 20,470, we could see a new bullish leg higher.
Failure to hold this zone could bring a sharp retracement toward 18,830 or even 16,948.
Upcoming U.S. economic events marked on the chart may be the catalyst for the next move.
Trade Ideas:
Short-Term Bears: Look for rejection candles or fake breakouts at current highs.
Trend Traders: Wait for a confirmed breakout and retest above 20,470 for longs.
Swing Buyers: Watch for bullish setups around 18,830 or the demand zone at 16,948.
Volume Profile + LuxAlgo Zones confirm this supply and demand setup. Smart money tends to react at these extremes—watch closely!
Key Levels:
Resistance Zone: 20,139 – 20,470 (Visible Supply Zone)
Mid Support: 18,830 (Strong bounce level in April)
Demand Zone: 16,948 – 17,300 (Price base with historical accumulation)
What I'm Watching:
If bulls break and hold above 20,470, we could see a new bullish leg higher.
Failure to hold this zone could bring a sharp retracement toward 18,830 or even 16,948.
Upcoming U.S. economic events marked on the chart may be the catalyst for the next move.
Trade Ideas:
Short-Term Bears: Look for rejection candles or fake breakouts at current highs.
Trend Traders: Wait for a confirmed breakout and retest above 20,470 for longs.
Swing Buyers: Watch for bullish setups around 18,830 or the demand zone at 16,948.
Volume Profile + LuxAlgo Zones confirm this supply and demand setup. Smart money tends to react at these extremes—watch closely!
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Disclaimer
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