US100: Imbalance rejection – Bears back in control
🧠 SKILLING:US100 Technical Analysis
🧱 Resistance Zone (Imbalance)
• The 24,900 – 24,950 area acts as a strong resistance, overlapping with a supply/imbalance zone.
• Price has reacted bearish from this level, showing clear selling pressure.
• This is a potential area to look for short (Sell) setups.
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📉 Current Market Structure
• After a sharp bullish retracement, price formed a rising channel 🔵.
• However, inside the highlighted circle, price has broken down from the channel — indicating weakening bullish momentum.
• This breakdown supports a short bias in the short term.
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💡 Trade Plan
• Bias: Look for Sell setups near the resistance zone.
• Confirmation: Wait for a small pullback and a new lower high before entering short.
• Target (TP): Toward the Support zone 24,740 – 24,868 (previous bottom).
• Stop Loss (SL): Above resistance at around 24,950 – 25,000.
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🟢 Support Zone
• The 24,740 – 24,780 area is the previous bottom, where price previously bounced strongly.
• This level might attract profit-taking from sellers or temporary buying interest.
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⚠️ Risk Notes
• If price closes above 25,000 (H1 candle), the bearish scenario becomes invalid.
• Manage position sizing carefully and wait for clear confirmation before entering a trade.
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🧭 Summary
• Short-term Trend: 🔻 Bearish correction
• Mid-term Trend: 🔄 Sideways – waiting for a breakout of either 24,740 or 25,000.
• Current Opportunity: Sell from resistance → Target support zone
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Harry Andrew @ ZuperView
