📊 US100 (NASDAQ) Trade Idea: Critical Support Test & Potential Reversal Setup
🔍 Key Levels & Context:
The US100 is currently testing a significant support zone between 16,000–17,000, which has historically acted as a springboard for rallies (see 2023 bounce). A breakdown below 16,000 would suggest a deeper correction toward 15,242 (next support) or even 14,000, while holding above 17,000 could keep the bullish structure intact.
🎯 Profit Targets (If Bullish Reversal Confirmed):
Initial Target: 19,000 (Previous resistance → now potential support-turned-resistance)
Secondary Target: 20,000–21,000 (Psychological level & measured move from consolidation)
Stretch Target: 23,000–24,000 (All-time high retest, Fibonacci extension confluence)
📉 Bearish Scenario (If Support Fails):
A close under 16,000 opens the door to 15,242 (2023 swing low)
Short-term rallies into 17,500–18,000 could then become sell opportunities.
So I think the US100 pursues the following projection, and I'd be happy if you share your thoughts 🫡
#Trading #NASDAQ #US100
🔍 Key Levels & Context:
The US100 is currently testing a significant support zone between 16,000–17,000, which has historically acted as a springboard for rallies (see 2023 bounce). A breakdown below 16,000 would suggest a deeper correction toward 15,242 (next support) or even 14,000, while holding above 17,000 could keep the bullish structure intact.
🎯 Profit Targets (If Bullish Reversal Confirmed):
Initial Target: 19,000 (Previous resistance → now potential support-turned-resistance)
Secondary Target: 20,000–21,000 (Psychological level & measured move from consolidation)
Stretch Target: 23,000–24,000 (All-time high retest, Fibonacci extension confluence)
📉 Bearish Scenario (If Support Fails):
A close under 16,000 opens the door to 15,242 (2023 swing low)
Short-term rallies into 17,500–18,000 could then become sell opportunities.
So I think the US100 pursues the following projection, and I'd be happy if you share your thoughts 🫡
#Trading #NASDAQ #US100
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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.