NAS100: Bearish Momentum Confirmed – Targeting Downside on Intraday Chart

Good morning, KoraFX community! Sophia Fischer here from Frankfurt, diving into the NAS100 this morning. The data is compelling, and "the trend is your friend," especially when it's as clear as this. We're currently seeing NAS100 at 21397.51, reflecting a -0.48% drop over the last 24 hours. The overall trend remains firmly bearish, which aligns perfectly with my analytical approach.

Technical Analysis & Key Levels

Looking at the intraday chart, we've clearly established a bearish sentiment. The daily range from 21243.79 to 21551.24 shows considerable downside pressure. My technical models indicate that resistance levels at 21450 and 21500 are robust. We're seeing lower highs and lower lows forming, a classic sign of bearish continuation. My short entry is set at 21447, targeting a retest of that 21450 resistance level before a further move down. This area is a key level being tested, and I anticipate institutional order flow pushing it lower from there. On the downside, we have immediate support at 21350 and 21300, with the day's