The NASDAQ 100 (US100) has been in an upward trend, but it is now facing strong resistance around the 21,750 and 21,850 levels. Signs of buyer exhaustion indicate a potential pullback, with a key support target around 21,580.
📊 Technical Analysis:
1. Rejection at Key Resistance Levels
• The price has tested 21,750 and struggled to break through, signaling strong resistance.
• Another attempt toward 21,850 could lead to another rejection, reinforcing bearish sentiment.
2. Loss of Bullish Momentum
• The MACD histogram is showing a decline in bullish momentum, indicating a weakening buying pressure.
• If momentum continues to fade, sellers could take control.
3. Institutional Order Block at 21,850
• The 21,850 level aligns with a key institutional order block, where large sell orders might be placed.
• This increases the probability of a reversal from this zone.
4. Liquidity Target at 21,580
• The 21,580 zone has acted as a demand level in previous sessions.
• If price moves lower, this level may serve as a key liquidity target for potential rebounds.
🔻 Conclusion:
With resistance rejections, weakening momentum, and key liquidity targets below, the probability of a downward move remains high. Traders should monitor price action closely at resistance levels and observe whether sellers maintain control.
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