US100 with potential rejection at 50er EMA or inv. H&S patternUS100SKILLING:US100BitbullTradingHello TradingView community, The Nasdaq 100 (US100) was heavily sold off last week and is currently in a retrace scenario, slowly working its way back up. Price sits at 27,828.7 points, up +0.56% on the day. The interesting part is the structure that could be developing here. At the resistance zone around 28,750–29,000 points, an inverse head and shoulders pattern may be taking shape. With the early November low as the left shoulder, the 26,250 low as the head, and after another rejection in the restiance zone, the recovery building toward a potential right shoulder. The precondition: the US100 has to push through the 50 EMA (28,041.8) first. That EMA is the immediate hurdle, with the 100 EMA (28,647.9) sitting just below the resistance zone and the 200 EMA (29,170.5) further above, a stacked wall of dynamic resistance that the index must work through. The 20 EMA (27,477.8) has at least been reclaimed, which is the first small positive sign. Should the index fail at the 50 EMA, the probability is high that this was merely a short-term buying impulse and that we retest the lows in the course of the week. The red line at 26,133.3 points remains the key reference on the downside. That level marks the last significant high before the big rally and would be the logical target for a renewed flush. The VRVP shows a dense volume cluster between 28,750 and 29,750 points – that overhead supply is exactly what makes the resistance zone so demanding. Below the current level, volume thins out noticeably toward 26,500, which would support a quicker move lower if the recovery fails. Happy trading Your Bitbull team