NASDAQ 100 | Daily Technical Outlook
Market Structure
The NASDAQ 100 remains under bearish pressure following the sharp decline that pushed the index toward the 24,000 psychological support zone. The recent sell-off confirmed a short-term shift in market structure, with price forming lower highs and lower lows across the H4 and H1 timeframes.
However, intraday charts now show a technical rebound after the index found support near recent lows. Buyers are attempting to stabilize the market as price gradually recovers toward the 24,400–24,500 area, which previously acted as support and may now function as resistance.
Despite the current bounce, the broader short-term structure remains fragile while the index trades below key resistance levels.
Key Resistance Zone
Immediate resistance is located at:
24,400 – 24,600
This zone represents:
- A prior breakdown level
- Recent intraday highs during the rebound
- Confluence with declining short-term moving averages
Stronger resistance stands at:
25,000 – 25,200
A sustained move above 24,600 would be required to signal a stronger recovery.
Key Support Zone
Immediate support is located at:
24,000 – 23,900
Below that, further downside opens toward:
23,400 – 23,600
A decisive break below 23,900 could trigger another wave of selling pressure.
Expectations
Bullish Scenario
If the NASDAQ 100 holds above 24,000, the current rebound may extend toward 24,600, with a potential test of 25,000 if bullish momentum strengthens.
Bearish Scenario
Failure to maintain support above 24,000 would likely resume the broader decline, exposing 23,600 and potentially 23,400.
Outlook
The NASDAQ 100 is attempting a short-term corrective recovery, but the broader market structure still favors sellers unless the index reclaims higher resistance levels. Traders will be watching whether the current rebound develops into a deeper recovery or remains a temporary bounce within the prevailing downtrend.
