NAS100 Technical Analysis – Bearish Rejection at Resistance NAS100 Technical Analysis – Bearish Rejection at Resistance 🚨
📅 Date: June 6, 2025
📈 Instrument: NAS100 (US Tech 100 Index)
🔍 Chart Overview:
The price action shows a clear rejection from the 21,800 USD resistance zone, marked by two strong bearish wicks (indicated by red arrows 🔴). This level has proven to be a strong supply zone, as sellers repeatedly step in to push prices lower.
🔵 Key Zones:
🔺 Resistance Zone: 21,750 – 21,800 USD
✅ Multiple rejections and bearish pressure.
🔻 Support Zone 1: 21,100 – 21,200 USD
📍 Acts as a mid-range demand zone and a potential take-profit level for short positions.
📉 Support Zone 2 (Major): 20,700 – 20,850 USD
📦 High-probability bounce area due to historical demand.
🔄 Price Action Insight:
The chart outlines a bearish double rejection pattern at the resistance level.
The current candlestick setup suggests bearish momentum, with a potential drop toward the mid-support zone.
If the price breaks below the mid-support, it could cascade down toward the major support near 20,800 USD.
📌 Projected Move:
🔻 From current levels (~21,750), expect:
Pullback from resistance,
Target 1️⃣: 21,100 USD zone,
Target 2️⃣: 20,800 USD major support.
🚫 A clean break and close above 21,800 invalidates the bearish outlook and may trigger a bullish continuation.
✅ Conclusion:
The chart favors a short bias below the resistance zone. Patience is key—wait for confirmation (like a bearish engulfing or break of structure 📉) before entering positions.
📊 Always use risk management. Set stop-loss above resistance in case of reversal
