Bullish View:
• Price is forming higher lows and holding above the lower ascending trendline.
• A breakout above the upper descending trendline near 18,500 would confirm bullish
momentum.
• If the breakout is sustained, potential upside targets include 18,650 and 18,800.
Bearish View:
• Price has tested the lower support trendline and shown weakness near the apex of the
triangle.
• A breakdown below 18,100 would indicate bearish momentum and invalidate the ascending
structure.
• If the breakdown is sustained, potential downside targets include 17,950 and 17,700.
• Price is forming higher lows and holding above the lower ascending trendline.
• A breakout above the upper descending trendline near 18,500 would confirm bullish
momentum.
• If the breakout is sustained, potential upside targets include 18,650 and 18,800.
Bearish View:
• Price has tested the lower support trendline and shown weakness near the apex of the
triangle.
• A breakdown below 18,100 would indicate bearish momentum and invalidate the ascending
structure.
• If the breakdown is sustained, potential downside targets include 17,950 and 17,700.
Trade active
Updated Technical Outlook – NAS100 Breakout Confirmed Bullish (Long)Bullish View:
• The price has broken above the descending trendline resistance of the symmetrical triangle pattern, signaling a potential bullish breakout.
• Confirmation of breakout is supported by strong bullish candles closing above the resistance.
• A long position is marked with an entry around 18,580, a stop-loss near 18,406, and a target near 18,925.
• This setup indicates a risk-reward ratio favouring the bulls, aiming for continuation toward recent highs.
Bearish Invalidation:
• The bearish view is currently invalidated as price has closed above key resistance.
• Bears would need to see a failed breakout (fakeout) and strong rejection back into the pattern with follow-through below 18,400 to regain control.
• Until then, momentum favour's the bulls.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.