$NAS100

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NAS100 | Bearish Momentum Builds Below Key Moving Averages; Watch Support Tests

The Nasdaq 100 is currently exhibiting a short-term bearish posture on the intraday charts, following a rejection from recent highs. Price action has shifted decidedly downward, with the index currently trading near 28,076.

On the technical front, moving averages are tilting toward a bearish alignment. The price is currently being pressured below the short-term weighted moving averages (WMA5 at 28,109 and WMA10 at 28,187), indicating that intraday rallies are facing immediate supply. Furthermore, the index has slipped below the middle band of the Bollinger Bands (MB: 28,367), suggesting that the recent upside momentum has faded and price is now testing the lower boundary of the current volatility range. The MACD indicator also reflects this downside shift, with the MACD line (-54.05) and signal line (-25.92) pointing sharply lower.

Trading Plan and Key Levels

In my trading plan, I would avoid chasing the market at these current lows. Instead, I would monitor for a relief rebound to reassess potential bearish setups, or look for a confirmed structural base near immediate support.

Based on the chart, the immediate area to watch on the downside is the recent swing low around 27,492. If selling pressure intensifies and the price breaks below this level, the next major structural area to watch would be lower.

On the upside, any short-term rebound will first need to reclaim the 28,100 to 28,187 zone (the cluster of short-term moving averages). If price rallies into this area and signals like long upper wicks or closes that fail to hold above these levels appear, that would be a more appropriate entry point to monitor for further downside continuation. The next significant resistance lies near the mid-Bollinger band at 28,367.

The key is to wait for confirmation signals from price action rather than predicting the next move. When trading CFDs in this volatile environment, be sure to manage position size strictly and set a stop-loss in advance to protect against sudden reversals.