US100 (NASDAQ) Trade Idea 📊 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 🫡
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