The NAS100 has pulled back significantly from its all-time highs, retracing into a major monthly demand zone aligned with the 50% Fibonacci retracement level (16,344.76).
🔍 Key Technical Highlights:
Demand Zone: Price has tapped into a historically strong demand block between 14,955 – 16,344 (gray box), which previously acted as a launchpad for the last rally.
Fibonacci Levels: Price bounced right off the 50% Fib level, showing early signs of bullish interest. Below lies the 61.8% and deeper retracement levels at 14,955 and 13,872 respectively—strong areas to watch if price dips further.
Bullish Reversal Candlestick: Current monthly candle showing potential reversal with high buying pressure.
RSI: The RSI is rebounding from near the 40 level, historically acting as support during major bull runs.
🎯 Trade Idea:
Entry: Near current levels or on a retest of 16,344
Target: 25,410 (Previous ATH and Fibonacci extension zone, +27%)
Stop Loss: Below 14,000 support, giving room for volatility
🧠 RSTRADING View:
We’re anticipating a long-term bullish reversal as the market finds footing at a key institutional zone. With macroeconomic optimism returning and tech stocks regaining momentum, NAS100 could be setting up for a new leg higher.
🔍 Key Technical Highlights:
Demand Zone: Price has tapped into a historically strong demand block between 14,955 – 16,344 (gray box), which previously acted as a launchpad for the last rally.
Fibonacci Levels: Price bounced right off the 50% Fib level, showing early signs of bullish interest. Below lies the 61.8% and deeper retracement levels at 14,955 and 13,872 respectively—strong areas to watch if price dips further.
Bullish Reversal Candlestick: Current monthly candle showing potential reversal with high buying pressure.
RSI: The RSI is rebounding from near the 40 level, historically acting as support during major bull runs.
🎯 Trade Idea:
Entry: Near current levels or on a retest of 16,344
Target: 25,410 (Previous ATH and Fibonacci extension zone, +27%)
Stop Loss: Below 14,000 support, giving room for volatility
🧠 RSTRADING View:
We’re anticipating a long-term bullish reversal as the market finds footing at a key institutional zone. With macroeconomic optimism returning and tech stocks regaining momentum, NAS100 could be setting up for a new leg higher.
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7+ years of trading experience 📚
Canadian Based 🇨🇦
Learn a structured approach to consistent trading results 🧠💡
Follow me on Insta!
Canadian Based 🇨🇦
Learn a structured approach to consistent trading results 🧠💡
Follow me on Insta!
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.