US100 Price Outlook – Trade SetupUS 100 IndexFX:NAS100ATFX_Global🌐Macro Background Global equity markets tumbled as investors aggressively rotated out of technology shares. The shift has deepened a severe sell-off in chipmakers following their blistering rally earlier this year, dragging down regional bellwethers like TSMC, even as it beat market estimates. All eyes are now on tonight’s U.S. Manufacturing & Industrial Production data and the preliminary Michigan Consumer Sentiment print for July to gauge the health of the economy. 📊Technical Structure US100 index is trading within a descending channel, reflecting the dominant bearish pressure. The index has broken cleanly below its previous support level, which has now flipped into a key overhead resistance zone. Resistance Zone: 28,898 – 29,034 Support Zone: 28,272 – 28,446 🎯Trade Setup Given the strong bearish momentum and the clean structural breakdown, the trading strategy favours selling on rallies. A corrective bounce back toward the newly established Resistance Zone (28,898 – 29,034) presents a high-probability short entry opportunity. 📌Invalidation The bearish outlook will be invalidated if the price undergoes a strong recovery and achieves a sustained 4-hour candle close above the 29,034 level. Such a breakout would invalidate the resistance flip and signal a deeper corrective rally back into the channel's upper half. 📌Trade Summary Short the index on a corrective bounce toward the 28,898–29,034 resistance zone, targeting the 28,272–28,446 support zone with a stop loss placed above 29,100. ⚠️Disclaimer This analysis is for reference only and does not constitute trading advice. Financial markets involve significant risk; proper risk and position management are essential.