US Tech 100 (NAS100) Technical AnalysisUS Tech 100 CashIG:NASDAQMarketStrategysignals🚀📊 US Tech 100 (NAS100) Technical Analysis – Rejection at Resistance Signals a Corrective Pullback The US Tech 100 (NASDAQ 100) continues to display a strong bullish market structure on the 2-hour timeframe, but recent price action suggests that the index has reached a critical decision point. After recovering sharply from the major support zone, buyers successfully shifted market structure by breaking the previous bearish trendline and confirming a Change of Character (CHoCH). This breakout marked the beginning of a powerful bullish impulse that carried price directly into a significant resistance area. 📈 Market Structure Analysis The chart clearly shows that the previous downtrend lost momentum after buyers defended the major support around 26,980. Following this reversal, price established a sequence of higher highs and higher lows, confirming that bullish momentum had returned. A key technical event occurred when price broke above the previous swing structure, creating a CHoCH (Change of Character). This is often considered the first confirmation that sellers are losing control and buyers are taking over. After the structural shift, the market accelerated sharply, respecting the newly formed bullish trendline and producing a strong impulsive rally toward the upper resistance zone. 🔥 Resistance Zone Holding Strong Price has now entered the major resistance area between 29,800 and 29,950, a zone where previous selling pressure has historically appeared. Instead of breaking through immediately, buyers have started losing momentum, as shown by: 📌 Multiple rejection candles near resistance. 📌 Smaller bullish candles after the impulsive rally. 📌 Increasing selling pressure. 📌 Failure to create a decisive breakout above resistance. This suggests that institutional sellers may be taking profits while new buyers hesitate to enter at higher prices. 📉 Expected Pullback Scenario The current structure favors a healthy corrective pullback before the next major move. A retracement toward the previous breakout area around 29,100–28,900 would allow the market to retest former resistance as new support. If buyers defend this zone, the bullish trend could resume with another attempt to break above 29,900. However, if selling pressure increases and price breaks below the bullish trendline, the correction could extend toward the 28,600 demand zone, where stronger buying interest may reappear. The projected path on the chart reflects this possibility: Initial short-term bounce. Lower high formation. Continuation toward deeper support. 📊 Trend Analysis 🟢 Bullish Factors Strong recovery from major support. Break of bearish trendline. Confirmed Change of Character (CHoCH). Higher highs and higher lows remain intact. Price is still trading above key structural support. 🔴 Bearish Factors Strong rejection at major resistance. Bullish momentum is fading. Profit-taking pressure increasing. Possibility of a corrective decline before continuation. 🎯 Important Technical Levels 🟥 Resistance 29,800 – 29,950 This remains the key breakout zone. A confirmed close above it could trigger another bullish expansion. 🟨 Minor Support 29,100 – 29,000 Potential area where buyers may attempt to defend the trend. 🟢 Major Demand Zone 28,600 A stronger correction could target this area before bullish continuation. 🔵 Major Support 26,980 The overall bullish structure remains valid while price stays above this major support. 📌 Trading Outlook 📉 Bearish Scenario If resistance continues to reject price, sellers may push the market toward 29,000, followed by 28,600 if bearish momentum strengthens. 📈 Bullish Scenario If buyers regain strength and produce a decisive breakout above 29,950, the correction becomes invalid and the index could continue its long-term uptrend toward fresh highs. 💡 Conclusion The US Tech 100 remains structurally bullish after confirming a Change of Character and breaking its previous bearish trendline. However, the rally has now reached a significant resistance zone where momentum is fading. Current price action suggests that the market may undergo a healthy pullback before determining its next major direction. Traders should avoid chasing price at resistance and instead wait for confirmation around key support levels or a confirmed breakout above resistance. Patience and disciplined risk management remain essential while the market decides its next move. ⚠️ Disclaimer This analysis is for educational purposes only and does not constitute financial advice. Always wait for confirmation before entering a trade and use proper risk management.