NASDAQ (US Tech 100) - 4H Analysis
Technical Overview:
The price has been in a strong downtrend, trading inside a descending channel.
Recently, it reached a potential support level around 19,375 - 19,500 and is showing early signs of reversal.
A breakout above the channel resistance could confirm a short-term bullish move.
Key Levels to Watch:
Support Zone: 19,375 - 19,500
Resistance Levels:
19,921 (First target)
20,532 (Second target)
Indicators:
RSI is rising from oversold conditions (below 40), which signals potential bullish momentum.
Volume is increasing at the bottom, suggesting possible buyer interest.
Potential Scenarios:
Bullish Breakout (Higher Probability)
If price breaks above 19,921, we could see a move toward 20,532.
RSI moving above 50 would confirm strength.
Rejection & Continuation Down
If price fails to break 19,921, it could revisit 19,375 or lower.
Trading Plan:
Buy above 19,921 with a target of 20,532.
Sell below 19,375 if price rejects resistance and RSI turns lower.
Technical Overview:
The price has been in a strong downtrend, trading inside a descending channel.
Recently, it reached a potential support level around 19,375 - 19,500 and is showing early signs of reversal.
A breakout above the channel resistance could confirm a short-term bullish move.
Key Levels to Watch:
Support Zone: 19,375 - 19,500
Resistance Levels:
19,921 (First target)
20,532 (Second target)
Indicators:
RSI is rising from oversold conditions (below 40), which signals potential bullish momentum.
Volume is increasing at the bottom, suggesting possible buyer interest.
Potential Scenarios:
Bullish Breakout (Higher Probability)
If price breaks above 19,921, we could see a move toward 20,532.
RSI moving above 50 would confirm strength.
Rejection & Continuation Down
If price fails to break 19,921, it could revisit 19,375 or lower.
Trading Plan:
Buy above 19,921 with a target of 20,532.
Sell below 19,375 if price rejects resistance and RSI turns lower.
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.