US 100 Cash CFDLong
NAS100 Bull Bias
Current Market Structure:
1. Trend Analysis:
• The price is still within a well-defined ascending channel.
• The recent price action shows a pullback toward the channel’s midline after hitting resistance near the upper channel boundary.
2. Key Levels:
• Resistance:
• 21,400–21,500: Price is near this key zone, which aligns with previous swing highs. A break above this could confirm further bullish momentum.
• 21,800: The next significant resistance, where a potential rejection could occur.
• Support:
• 21,200–21,300: Immediate support zone near the current price. A break below may lead to a retest of the channel’s lower boundary.
• 20,766 (blue line): Major support that aligns with previous lows and the base of the channel.
Possible Scenarios:
1. Bullish Case:
• If price holds above 21,300 and breaks through the 21,500 resistance zone, there’s a strong likelihood of a move toward the next resistance at 21,800 or even the upper boundary of the channel at 22,200.
• Buy confirmation: Look for bullish momentum candles or a retest of 21,400–21,500 as new support.
2. Bearish Case:
• If the price fails to break 21,500 and falls below 21,300, we may see further downside toward 20,766 (blue line).
• A break below 20,766 would invalidate the bullish structure and potentially lead to a deeper pullback toward 20,400–20,321.
Indicators to Watch:
• Trendline Interaction: The price is near the channel midline. A bounce or rejection here will determine the direction.
• Volume: A breakout above resistance zones requires strong volume for confirmation.
• Momentum Indicators (e.g., MACD/RSI): Watch for divergences or crossovers that might indicate a shift in momentum.
Trading Plan:
1. Long Setup:
• Entry: Above 21,500, after a breakout and retest.
• Target: 21,800, then 22,200.
• Stop Loss: Below 21,300 (midline).
2. Short Setup:
• Entry: Below 21,300, after rejection.
• Target: 20,766, then 20,400.
• Stop Loss: Above 21,500.
Conclusion:
The market remains in an ascending channel, favoring bullish bias unless 20,766 is broken. Monitor price action at 21,300–21,500 for confirmation of direction.
1. Trend Analysis:
• The price is still within a well-defined ascending channel.
• The recent price action shows a pullback toward the channel’s midline after hitting resistance near the upper channel boundary.
2. Key Levels:
• Resistance:
• 21,400–21,500: Price is near this key zone, which aligns with previous swing highs. A break above this could confirm further bullish momentum.
• 21,800: The next significant resistance, where a potential rejection could occur.
• Support:
• 21,200–21,300: Immediate support zone near the current price. A break below may lead to a retest of the channel’s lower boundary.
• 20,766 (blue line): Major support that aligns with previous lows and the base of the channel.
Possible Scenarios:
1. Bullish Case:
• If price holds above 21,300 and breaks through the 21,500 resistance zone, there’s a strong likelihood of a move toward the next resistance at 21,800 or even the upper boundary of the channel at 22,200.
• Buy confirmation: Look for bullish momentum candles or a retest of 21,400–21,500 as new support.
2. Bearish Case:
• If the price fails to break 21,500 and falls below 21,300, we may see further downside toward 20,766 (blue line).
• A break below 20,766 would invalidate the bullish structure and potentially lead to a deeper pullback toward 20,400–20,321.
Indicators to Watch:
• Trendline Interaction: The price is near the channel midline. A bounce or rejection here will determine the direction.
• Volume: A breakout above resistance zones requires strong volume for confirmation.
• Momentum Indicators (e.g., MACD/RSI): Watch for divergences or crossovers that might indicate a shift in momentum.
Trading Plan:
1. Long Setup:
• Entry: Above 21,500, after a breakout and retest.
• Target: 21,800, then 22,200.
• Stop Loss: Below 21,300 (midline).
2. Short Setup:
• Entry: Below 21,300, after rejection.
• Target: 20,766, then 20,400.
• Stop Loss: Above 21,500.
Conclusion:
The market remains in an ascending channel, favoring bullish bias unless 20,766 is broken. Monitor price action at 21,300–21,500 for confirmation of 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.