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US 100 Analysis – Buyers Struggle to Breach the 15239.20 Market Area
NAS 100 buyers back out as sellers flirt down to the 14947.30 zone. The maker has been struggling since the buyers have dropped their momentum and created an avenue for a short-selling flow in the market. In the previous month, the bulls were consistent in their buying strength and managed to push the price close to the 15239.20 level.
However, they failed to breach this level as the buy liquidity was insufficient to make a breakthrough. This has led to a pullback in the price to the 14947.30 zone, with 100 buyers backing out as sellers flirt down to this level.
US 100 Important Levels
Resistance Levels: 15239.20, 14947.30
Support levels: 14241.20, 13582.10
While this could be a temporary setback, it is a warning sign for the bulls, as they need to regain their momentum and make a successful breakout beyond the 15239.20 level.
At the same time, Nasdaq traders need to remain cautious, as the market could swing either way depending on the liquidity flow in the market. If the buyers can produce strong buying pressure, then the market could crack out above the 15239.20 level, leading to further gains in the US 100 index.
On the other hand, if the buyers fail to produce enough liquidity, then the market could remain stuck in this range, with the bears taking over the market.
Currently, US 100 buyers are facing selling pressure in the market, indicating that sellers are dominating. This could be a short-term trade, but traders should still monitor how the price develops in the coming days.
The Chaikin Money Flow indicator shows a downward trend, suggesting that sellers have strength in the market. However, the Parabolic SAR (Stop and Reverse) indicator is still indicating a bullish move.
NAS 100 Short-Term Trend: Bearish
On the 4-hour chart, sellers are exerting significant pressure on the US 100, while buyers are attempting to regain control. Traders will be watching whether the key level at 14947.30 is broken or reacted to based on market interaction.
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