NAS100 Shows Bearish Momentum With Potential Correction Before Continuation

NAS100 Analysis – March 2

NAS100 exhibits bearish momentum with a potential correction before continuation. The 9-day SMA at $21,470 currently acts as dynamic resistance, keeping the price below key levels. The RSI at 51.74 indicates a neutral stance, but recent downward movement suggests further bearish pressure. The price struggles to break above the SMA, confirming the prevailing bearish trend. Any attempt to push higher may face resistance at $21,470 before continuing downward.

NAS100 Key Levels

Resistance Levels: $21,860, $23,000, $24,050
Support Levels: $19,920, $18,320, $17,250

NAS100 Long-Term Trend: Bearish

From a price action perspective, NAS100 recently broke below an ascending trendline, signaling a shift in market structure. A support zone near $20,420 has temporarily held the price, leading to a minor bounce. However, the overall structure remains weak, with lower highs forming. Fibonacci retracement levels indicate that the price could test the $21,460-$21,860 area before continuing downward.

Given the bearish market conditions, a temporary relief rally toward $21,460 is possible before further decline. If resistance holds, NAS100 is likely to resume its downtrend toward the next key support at $19,920. A break below this level could expose $18,320 as the next major target. Traders should monitor rejection at $21,460 as confirmation of further downside, with forex signals potentially indicating key market movements.

NAS100 Short-Term Trend: Bullish

NAS100 has broken above the descending trendline, signaling a potential bullish reversal. The price is trading above the 9-day SMA at $20,690, confirming short-term momentum.
The RSI has crossed above 42.83, showing improving strength after oversold conditions. If the breakout holds, the next target is $22,180, with further potential toward $23,000.

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