NDX100 Nasdaq 100 Index bear market rally hitting Cloud Chart downside targets! Rebound potential at old Cloud Chart support zones! Keep a eye on the Cloud Chart support zone at the top end of the Cloud on the Weekly Cloud! Do expect a technical reversal in and around these Cloud Chart support zones since price action is now well extended from the bottom end of the Cloud!
The NASDAQ 100 is currently in a strong bearish phase, with price breaking decisively below the Ichimoku cloud and key support levels. This confirms a shift in trend, as price is now trading beneath both the Tenkan and Kijun lines, signaling sustained downside momentum.
MACD remains deeply negative, with no signs of bullish divergence, indicating that selling pressure is still dominant. Recent price action shows accelerated declines with large red candles, suggesting possible capitulation but not yet a confirmed bottom.
Key support lies around 23,000, with a potential move toward 22,500 if this level fails. On the upside, resistance is stacked between 24,000–25,000, reinforced by the cloud and prior structure.
Overall, the trend remains bearish, and any short-term bounce is likely to face resistance unless price can reclaim the cloud and reverse momentum.
Weekly Cloud Chart downside risk towards top end of the Cloud!
No comments:
Post a Comment