The NAS100 index has resumed its upward momentum after a brief consolidation phase. Following the bullish breakout, the market initially encountered resistance around the 20,129.00 level, where a bearish order block was present. Despite this resistance, buyers managed to overcome the selling pressure, allowing the price to continue its ascent and maintain a bullish structure.
The NAS100 bullish trend has persisted since the price broke above the 19,630.0 level, indicating a significant Break of Structure (BOS). The Lorentizan Machine Learning indicator has consistently issued buy signals, reinforcing this upward trend. The indicator’s Moving Average line, positioned beneath the daily candles, underscores the strength of the market’s bullish bias.
After reaching the 20,129.0 bearish order block, upward momentum briefly paused. However, a successful retest of the 19,630.0 level reignited the bullish movement, leading to another BOS above the 20,129.0 level. Following the breakout, the price pulled back to this key level, consolidating momentum for the next upward movement, supported by forex signals.
Nasdaq 100 Short-Term Trend: Bullish
On the lower timeframes, the market is moving sideways, repeatedly testing and holding the 20,129.0 key level. This consolidation suggests that the price is gathering strength for the next bullish expansion. The price is expected to target the previous all-time high of 20,771.0 in the upcoming sessions, marking it as the next likely swing high and a key resistance level to monitor.
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