NAS100 still in retracement, we had market structure shift on weekly with bearish momentum. Currently the market is still selling with the next support at 18447-18303. The most recent broken support which might act as resistance is at 19707-19916. Either we get price to retest the above resistance and reject or we get a direct breakdown of 19177 for downtrend continuation down to 18447-18303. A breakout above 19707-19916 would invalidate the current bearish market and could indicate a possible reversal into the uptrend.
PS: We do start to have bullish divergence at 4h with a triple bottom having formed and momentum oscillator increasing but whether this is going to be a small retracement or the beginning of a reversal into the uptrend remains to be seen by the price action.
