NAS100 - Potential Buy at Key Demand Zone
The NAS100 is approaching a key demand zone, which has historically acted as a strong support area. This level is marked by prior price reactions, suggesting that buyers may step in again if the price retraces to this zone.
The current market structure indicates a bearish trend, but there is potential for a bullish reversal if the price finds support within this demand zone. I anticipate that if the price confirms a rejection from this zone with bullish signals, such as long wicks or bullish engulfing candles, the market may move upward.
The first target for this potential bullish move would be around the $20,924 level. This setup aligns with the idea of trend exhaustion near support, providing an opportunity for a short-term rally.
Let me know your thoughts or if you have additional insights into this setup! Feel free to share your perspective in the comments!
The current market structure indicates a bearish trend, but there is potential for a bullish reversal if the price finds support within this demand zone. I anticipate that if the price confirms a rejection from this zone with bullish signals, such as long wicks or bullish engulfing candles, the market may move upward.
The first target for this potential bullish move would be around the $20,924 level. This setup aligns with the idea of trend exhaustion near support, providing an opportunity for a short-term rally.
Let me know your thoughts or if you have additional insights into this setup! Feel free to share your perspective in the comments!
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