NAS100 Technical Analysis – Bearish Rejection at ResistanceNasdaq 100 IndexBLACKBULL:NAS100MrStellanSightNAS100 Technical Analysis – Bearish Rejection at Resistance 🚨 📅 Date: June 6, 2025 📈 Instrument: NAS100 (US Tech 100 Index) 🔍 Chart Overview: The price action shows a clear rejection from the 21,800 USD resistance zone, marked by two strong bearish wicks (indicated by red arrows 🔴). This level has proven to be a strong supply zone, as sellers repeatedly step in to push prices lower. 🔵 Key Zones: 🔺 Resistance Zone: 21,750 – 21,800 USD ✅ Multiple rejections and bearish pressure. 🔻 Support Zone 1: 21,100 – 21,200 USD 📍 Acts as a mid-range demand zone and a potential take-profit level for short positions. 📉 Support Zone 2 (Major): 20,700 – 20,850 USD 📦 High-probability bounce area due to historical demand. 🔄 Price Action Insight: The chart outlines a bearish double rejection pattern at the resistance level. The current candlestick setup suggests bearish momentum, with a potential drop toward the mid-support zone. If the price breaks below the mid-support, it could cascade down toward the major support near 20,800 USD. 📌 Projected Move: 🔻 From current levels (~21,750), expect: Pullback from resistance, Target 1️⃣: 21,100 USD zone, Target 2️⃣: 20,800 USD major support. 🚫 A clean break and close above 21,800 invalidates the bearish outlook and may trigger a bullish continuation. ✅ Conclusion: The chart favors a short bias below the resistance zone. Patience is key—wait for confirmation (like a bearish engulfing or break of structure 📉) before entering positions. 📊 Always use risk management. Set stop-loss above resistance in case of reversal.