Nasdaq100 (NAS100) Shows Bullish Momentum but Faces Potential Correction

NAS100 Analysis – February 9

NAS100 continues to exhibit bullish momentum but remains susceptible to a potential correction. The index maintains an overall uptrend, trading above the 9-period SMA at $21,530. Although showing signs of weakening downward, the MACD histogram remains above the zero line, with the MACD line positioned above the signal line, confirming the bullish trend.

NAS100 Key Levels

Resistance Levels: $21,880, $22,140, $23,000
Support Levels: $19,920, $18,320, $17,250

NAS100 Long-Term Trend: Bullish

A bearish order block emerged near the $21,880 resistance level, suggesting potential rejection at this point. The index is currently stabilizing and is likely to retrace toward the ascending trendline around $20,910 before resuming its upward trajectory. Support at $20,760 may provide temporary relief, but increased selling pressure could push the price further down to the $19,920 zone.

If NAS100 secures strong support above $19,920, buyers might step in to drive the price toward the next resistance level at $22,140. A breakout above this level would confirm a bullish continuation, setting $23,000 as the next significant target. However, failure to sustain support could lead to further declines, delaying any potential recovery.

NAS100 Short-Term Trend: Bearish

Rejection at the $21,880 level and the formation of lower highs indicate bearish pressure. The MACD histogram shows the MACD line curving downward toward the signal line, signaling a loss of momentum. The price is currently following the upward trendline, but a break below this level could intensify the sell-off toward the $19,920 support. While a slight bounce from the trendline is possible, any recovery may be short-lived before further declines occur. Forex signals suggest monitoring these levels for potential trading opportunities.

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