NAS100 Short Play: Resistance Holding, Targeting Lower Support

NAS100 Technical Read

NAS100 is currently hovering at 21511.95, clearly in a sideways trend. I'm seeing price struggle against the 21529.87 resistance area, and with the Day Range tight, it signals potential exhaustion for any upside push. The market appears to be losing steam at these higher levels.

My Intraday Setup

I'm looking for a short entry at 21516. The current price action suggests a rejection of the immediate resistance. My Stop Loss is set tight at 21538, just above the daily high, acknowledging the aggressive risk. Take Profit is targeting 21462, aiming for a move down towards the 21450 support zone. Watching closely for confirmation as macro caution seems to be weighing on sentiment.
This is an intraday play, capitalising on the current range-bound movement and potential for a retrace within the sideways trend. The trend is your friend, even when it's just a short-term down-move within a range.