Nasdaq 100 Technical Outlook – Is a Major Reversal in Play?🔍 Market Overview:
The Nasdaq 100 (NDX) has been in a strong downtrend, but recent price action suggests a potential bullish reversal from a key demand zone. As of now, price is testing critical resistance levels, and a breakout could lead to a significant rally.
📌 Key Levels to Watch:
🔹 Support: 19,433 – 19,500 (Strong demand zone) 🟠
🔹 Resistance 1: 20,710 (Breakout target) 🔵
🔹 Resistance 2: 22,091 (Major supply zone) 🔵
📈 Bullish Scenario:
If price holds above the 19,433 support level and breaks past 20,710, we could see a strong move toward 22,091. Volume confirmation and momentum indicators will be key to validating the bullish continuation.
📉 Bearish Scenario:
Failure to hold above 19,433 could signal further downside, possibly retesting lower support levels below 19,250.
🚀 Trading Plan:
✅ Long above 20,710 with targets at 21,500 and 22,091.
❌ Stop-loss below 19,433 to minimize risk.
💬 What’s your outlook on NDX? Will we see a breakout or another rejection? Drop your thoughts in the comments! 👇🔥
