NAS100 Sustains Bullish Drive Amid Key Technical Confluences

NAS100 Analysis – August 24

NAS100 sustains its bullish drive amid key technical confluences. The index is currently maintaining a bullish stance, supported by the 9-day SMA at approximately $23,590, which is acting as dynamic support. Momentum indicators, particularly the Stochastic Oscillator, reflect a rebound from near oversold territory, suggesting renewed buying pressure after the recent retracement. This alignment of price action with supportive indicators reinforces the broader upward trajectory, signaling that market participants continue to favor long positions.

NAS100 Key Levels

Resistance Levels: $24,050, $25,000, $26,040
Support Levels: $23,000, $22,140, $20,360

NAS100 Long-Term Trend: Bullish

The index recently tested the $23,000 support zone, which also coincides with a fair value gap region, and managed to hold above it. The swift recovery back above $23,500 highlights strong institutional demand, with buyers actively defending this liquidity pocket. Resistance is forming around $24,050, which has acted as a near-term ceiling in recent sessions. Sustained closes above this level would confirm bullish continuation and open the pathway for higher targets.

Looking ahead, projections favor further upside momentum toward the $25,000 psychological benchmark in the coming weeks, provided price remains above $23,000. A breakout beyond $25,000 could trigger a move toward $26,040, aligning with the next significant resistance zone. On the downside, failure to hold $23,000 may lead to a retest of $22,400, but as long as buyers defend that region, the bullish outlook stays intact. Overall, NAS100 continues to maintain a growth-oriented structure with attractive upside potential.

NAS100 Short-Term Trend: Bullish

On the four-hour chart, NAS100 is showing renewed bullish momentum after rebounding strongly from the $23,000 demand zone. Price has reclaimed the 9-period SMA around $23,230, signaling short-term strength and potential continuation.

The Stochastic Oscillator is currently in the overbought zone, reflecting strong buying interest but also suggesting possible minor pullbacks. If momentum holds, the index is poised to challenge resistance near $23,985 and potentially extend toward $25,000. Traders monitoring forex signals alongside these technical setups may find timely opportunities for entry.

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