NAS100: Bearish Trend Holds – Short Opportunity from Resistance

Market Read

NAS100 is clearly under pressure. Current price at 21423.6, with a -0.36% drop over 24 hours. The trend is unequivocally bearish, and "the trend is your friend" remains my guiding principle. Broader market conditions suggest continued downside potential, reinforcing the technical picture. We're seeing lower highs and lower lows on the intraday charts.

The Setup

I'm looking to take this trade short. Levels are clear for an intraday play. My entry is at 21451, just under the key resistance at 21450, which aligns with recent selling pressure. Stop Loss is placed above the day's high and resistance at 21589, giving enough room. Targeting 21107 for Take Profit, well below current support at 21309 and 21300, anticipating a solid continuation down. Clean setup aligning with the prevailing bearish momentum.