VasilyTrader

Nasdaq-100 Index (US100) 2 Scenarios Explained

Short
CAPITALCOM:US100   US 100

Us100 index is approaching a peculiar horizontal support.
Depending on the reaction of the price to that structure, I see 2 potential scenarios.

Bearish
If the price breaks and closes below 11480 - 11550 horizontal support on a daily,
I will expect a bearish continuation at least to 11200 level.

Bullish
The price may also respect the underlined green structure.
If the price breaks a falling parallel channel to the upside on a 4H,
I will expect a pullback to 11650.

Wait for a breakout, that will indicate you the future direction of the market.

What do you expect?

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