Nasdaq 100 | Technical Outlook
Market Structure
The Nasdaq 100 shifted into a bearish phase after failing to sustain its recent recovery, leading to a sharp rejection from higher levels. Price declined aggressively before finding temporary support and attempting a rebound.
The recovery from the 23,200 region formed a corrective move, with price now stabilizing below the 24,000-resistance area.
Key Resistance Zone
The nearest resistance is located at 24,000 – 24,100, representing a key barrier where price previously faced rejection. Any upward movement is likely to encounter selling pressure in this zone.
Additional resistance levels:
- 24,300
- 24,500 (major structural resistance)
As long as price remains below 24,100, bearish pressure persists.
Key Support Zone
Immediate support is seen at 23,600 – 23,500, where the market is currently attempting to stabilize.
A breakdown below 23,500 would expose lower support levels:
- 23,200
- 22,800 (key downside extension level)
Failure to hold above 23,500 would confirm further bearish continuation.
Expectations
Bearish Scenario (Primary)
The market remains under downside pressure while trading below 24,100.
A break below 23,500 could accelerate losses toward 23,200, with potential extension toward 22,800.
Bullish Scenario (Alternative)
A sustained move above 24,100 would signal short-term strength, opening the path toward:
- 24,300
- 24,500
However, bullish continuation requires a clear break and hold above resistance.
Outlook
The Nasdaq 100 remains in a corrective bearish structure following a strong rejection from higher levels. Sellers maintain control below key resistance, while price action around 24,000 – 24,100 will determine whether the index resumes its decline or shifts into a broader recovery phase.
