NASDAQ 100: A Tipping Point on the 4H ChartUS Tech 100 IndexPEPPERSTONE:NAS100SufiyanShabbirGangdaniKey Takeaway NASDAQ 100 (NAS100) is at a critical juncture, hovering at a potential inflection point around the 24,000 level. A clear breakout above or breakdown below this psychological and technical area will likely dictate the next major move for the index, presenting distinct opportunities for both bulls and bears. Macro View NASDAQ 100 has been in a strong rising trend channel for the medium to long term, indicating persistent investor optimism. The overall technical outlook remains positive. However, recent price action on the 4hour chart suggests a period of indecision, with the index consolidating just below its recent highs. This consolidation, combined with the emergence of a potential head and shoulders pattern, signals that a significant move is imminent. Bearish Outlook: A Breakdown Scenario A breakdown below the key support level at 23,800 would be a significant bearish signal. This level is crucial as it marks the lower boundary of the current consolidation zone. • Target 1: 23,700 A move below the first key support could quickly see the index test the 23,700 level, which has acted as a previous point of interest. • Target 2: 23,450 A break of the 23,700 support would confirm a deeper correction, with the next major target being 23,450. This level coincides with a significant volume node and previous support, making it a strong magnet for price. Risk Management: A stoploss should be placed just above the resistance to mitigate risk in a false breakdown. Bullish Outlook: A Breakout Scenario The bullish case is contingent on the index successfully holding the 24,000 psychological level and breaking above the key resistance at 24,208.5. • Target 1: 24,463 A confirmed breakout would likely propel the index toward the upper boundary of the rising channel, with a primary target of 24,463. This level represents a key extension of the current trend. • Target 2: 24,600 A decisive move beyond 24,463 would suggest a continuation of the bullish momentum, with a secondary target at 24,600. This level aligns with a major extension and could see the index set new all-time highs. Risk Management: A stop loss should be placed just below the support to protect against a trend reversal. Conclusion NASDAQ 100 is at a pivotal moment. Traders should watch for a clear break in either direction before entering a position. The 24,000 level is a critical pivot, and the ensuing price action will provide a clear roadmap for the market's next move.