US100 Consolidation Bearish structure

May 19

US100 remains bearish because the uptrend structure is broken, resistance is holding strong, and sellers are dominating every recovery attempt while key support levels are weakening.

Tecnically Price bearish movement due to factors like high interest rates, strong US dollar pressure, cautious investor behaviour, and possible weakness in major tech stocks right now, sellers are dominating short-term price action, and unless US100 breaks back above the resistance zone and creates strong higher highs again.

Resistance ; 29,000 / 29.200
Support ; 28,522 / 28,000

US100 breaks back above the resistance zone and creates strong higher highs again, the market is likely to remain bearish with downside continuation still possible at the same time, key support around 28,522 is under heavy pressure. Since price keeps revisiting this support, it becomes weaker, increasing the probability of a breakdown toward 28,006 or lower.

You may find more details in the chart,
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May 20

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