"NASDAQ 100 (US 100) Bearish Outlook: Will Supply Zones Hold?"🔹Technical Analysis: US 100 Index (15-Minute Chart)
▪️Key Observations:
1. Downtrend Continuation:
- The US 100 Index is currently in a bearish trend, forming lower highs and lower lows.
- The price is trading below key resistance zones, indicating further downside potential.
2.Supply Zones Identified:
- Two significant supply zones are marked on the chart where selling pressure is expected.
- The first supply zone is around 21,450 – 21,520.
- The second, stronger supply zone is near 21,600 – 21,700, where a previous sell-off occurred.
3. Bearish Rejection Expected:
- The price is likely to retest the lower supply zone before continuing downward.
- A rejection from this zone could lead to further declines.
4. Target Area:
- The projected target area is marked around 20,914, suggesting a possible continuation of the downtrend.
- If the price breaks below this level, further downside momentum could follow.
▪️Conclusion:
- The market structure remains bearish, and traders should watch for a potential rejection at the supply zone.
- A confirmation of resistance could provide shorting opportunities toward the 20,914 target area.
- However, a breakout above the supply zone could invalidate the bearish outlook.
▪️Trade Idea:
Bearish Bias – Wait for confirmation at the supply zone before considering short positions.
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