The NAS100 has bounced strongly from the high-volume demand zone (16,700 – 17,800) highlighted by LuxAlgo's Supply and Demand indicator. The current price is consolidating near 18,700, building momentum for a potential breakout.
Key Technical Zones:
Demand Zone: 16,700 – 17,800 (high buy interest)
Support Level: 17,828.9
Resistance 1: 20,350.6 (first upside target)
Major Supply Zone: 21,775.4 (big decision point for bulls)
Bullish Outlook:
Price has reclaimed the 17,828.9 support and is forming higher lows.
A strong break above 19,000 could send price to test 20,350, then possibly 21,775.
Green arrows show the bullish potential if price holds above support.
Bearish Risk:
A breakdown below 17,828.9 could signal a return to the demand zone.
Watch for rejection candlesticks or divergence signals near resistance.
Volume Profile Insight:
LuxAlgo's visible range shows strong buyer interest below 18,000, indicating institutions may be accumulating positions.
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Trade Idea: Look for a confirmed breakout above recent highs near 18,800 for long entries. Conservative traders may wait for a pullback to 17,800 for better risk-reward.
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What’s your take on NAS100? Will buyers push it to 20K+ or is this just a trap rally? Share your thoughts below!
#NASDAQ #US100 #NAS100 #IndexTrading #SupplyAndDemand #LuxAlgo #ForexAnalysis #StockMarket #TradingView #TechnicalAnalysis #BullishSetup
Key Technical Zones:
Demand Zone: 16,700 – 17,800 (high buy interest)
Support Level: 17,828.9
Resistance 1: 20,350.6 (first upside target)
Major Supply Zone: 21,775.4 (big decision point for bulls)
Bullish Outlook:
Price has reclaimed the 17,828.9 support and is forming higher lows.
A strong break above 19,000 could send price to test 20,350, then possibly 21,775.
Green arrows show the bullish potential if price holds above support.
Bearish Risk:
A breakdown below 17,828.9 could signal a return to the demand zone.
Watch for rejection candlesticks or divergence signals near resistance.
Volume Profile Insight:
LuxAlgo's visible range shows strong buyer interest below 18,000, indicating institutions may be accumulating positions.
---
Trade Idea: Look for a confirmed breakout above recent highs near 18,800 for long entries. Conservative traders may wait for a pullback to 17,800 for better risk-reward.
---
What’s your take on NAS100? Will buyers push it to 20K+ or is this just a trap rally? Share your thoughts below!
#NASDAQ #US100 #NAS100 #IndexTrading #SupplyAndDemand #LuxAlgo #ForexAnalysis #StockMarket #TradingView #TechnicalAnalysis #BullishSetup
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