NAS100: Bearish Momentum Confirmed - Targeting Further Downside

Trend Confirmation & Market Structure

My analysis on the NAS100 clearly indicates that the bearish trend remains firmly in control. The current price of 21394.23, combined with a 24-hour change of -0.49% (-105.77 points), confirms the selling pressure we've been observing. As I always say, "The trend is your friend," and right now, the friend is pointing south. We've seen a failure to reclaim higher levels, indicating a potential "market structure shift" after the previous attempts at pushing towards the 21552.88 daily resistance. This tells me that sellers are stepping in aggressively, especially around key resistance zones.

Technical Setup & Entry Justification

From a technical perspective, my focus is on leveraging this confirmed downtrend. I've identified the 21445 level as a high-probability zone for a short entry. This level sits just below the immediate resistance at 21450, offering an excellent risk-to-reward ratio for a swing trade. Price action around this 21450 resistance has been consistently rejected, signaling strong overhead supply. My stop loss is strategically placed at 21699, above the significant resistance at 21552.88 and the prior swing high, providing ample room for market noise but protecting against an unexpected reversal. My target, a take profit at 20937, anticipates a deeper push through the support levels of 21350, 21300, and ultimately breaching the daily low