USNAS100 | 29,600 Pivot as AI Rebound Meets Geopolitical RiskUS Nas 100OANDA:NAS100USDSroshMayiUSNAS100 remains highly sensitive to a mixed fundamental backdrop. On the supportive side, AI-related stocks are attempting to rebound after last week’s sharp selloff, while lower Treasury yields and easing oil prices are reducing some of the pressure on growth and technology stocks. Investors are also looking ahead to a busy week of major U.S. technology earnings, which could provide another catalyst for the Nasdaq. However, geopolitical risks remain elevated, especially around the Strait of Hormuz. Any fresh escalation could quickly push oil prices and yields higher again, creating renewed pressure on technology stocks. Technically, 29,600 remains the key short-term pivot. As long as USNAS100 trades below 29,600, bearish pressure remains active toward 29,420 and 29,040 A confirmed break below 29,420 would strengthen the bearish structure and increase the probability of a deeper move toward 29,040. On the bullish side, stability above 29,600 would suggest that improving risk sentiment is gaining control and could support a recovery toward 29,870 and 30,040 A confirmed break above 29,870 would strengthen the bullish continuation, especially if AI stocks remain firm and Treasury yields continue to ease. Pivot: 29,600 Support: 29,420 — 29,040 Resistance: 29,870 — 30,040