NAS100 | Daily Technical Outlook
Market Structure
Nasdaq 100 is attempting a corrective recovery after a strong bearish phase that followed the rejection from higher levels. The index remains under pressure overall, with recent price action showing only a temporary rebound within a broader downtrend.
The sharp decline from the $24,800 – $25,000 region triggered an impulsive move lower, driving price toward $23,100, where the market is currently stabilizing after a short-term bounce.
Key Resistance Zone
The nearest resistance is located at $23,300 – $23,600, formed by the recent breakdown structure and short-term supply zone. Any upward movement is likely to face selling pressure here.
Additional resistance levels:
- $24,000
- $24,500 (major bearish rejection zone)
As long as price remains below $23,600, the broader bearish structure remains intact.
Key Support Zone
Immediate support is seen at $23,000 – $22,800, where the recent decline paused and buyers stepped in.
A break below $23,000 would increase downside pressure, exposing further targets:
- $22,500
- $22,000 – $21,800 (major structural support)
A sustained move below $22,000 would signal a deeper continuation of the downtrend.
Expectations
Bearish Scenario (Primary)
The overall structure favors continued downside while price remains below $23,600.
A break below $23,000 could accelerate the decline toward $22,500, with potential extension toward $22,000.
Bullish Scenario (Alternative)
A recovery above $23,600 would indicate short-term strength, opening the path toward:
- $24,000
- $24,500 (key level to shift momentum)
However, bullish moves are likely to remain corrective unless higher resistance is reclaimed.
Outlook
Nasdaq 100 remains under bearish pressure despite the current stabilization. The broader trend continues to favor sellers unless price breaks and holds above $23,600, while a move below $23,000 could trigger further downside expansion.
