US Nas 100
Long
Updated

NASDAQ 100: Index Holds Within Ascending Channel — Upside Moment

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The NASDAQ 100 index continues to move within an ascending channel. After testing support around 22,440 and forming a continuation pattern, the price bounced upward and held above the key level of 22,697. The current structure signals potential for short-term growth.

Technical Signals & Formations:
Price remains within an upward channel
EMA supports the bullish trend
An ABC pattern is forming toward the upper channel boundary
The current impulse is gaining strength after exiting the correction

Key Levels:
Support: 22,664; 22,527
Resistance: 22,974 (upper channel boundary), 23,080 (target zone)

Scenario:
Primary: If the index holds above 22,697, a continuation toward 22,974 and 23,080 is likely.
Alternative: A drop below 22,664 may lead to a decline toward 22,527 and the lower channel boundary.
Trade closed manually
Position closed at price 22746

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