NAS 100: Price Surge Potential After Break and Retest

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Hi everyone, Kilian here!

Let's take a closer look at the NAS 100 on a 3-hour timeframe, as it’s currently showing some interesting movements. The price has been steadily moving within an ascending channel, with the buyers continuing to dominate and push the price higher.

What’s particularly interesting right now is the breakout level. As the price approaches this level, we’ll be watching closely to see if the buyers can maintain control. A break and retest scenario could unfold here. If the price breaks through this level and then comes back to retest it (testing the broken level as support), and the buyers manage to hold it, this would be a strong confirmation that the buyers are still in control, and we could see price continuing to move towards the upper boundary of the channel.

However, if the price drops back below this level after the breakout, this could signal a false breakout, which may lead to a short-term correction as the sellers take control.

Currently, the momentum is still in favor of the buyers, and as long as the price holds above the breakout level, the bullish structure remains intact.

What do you think? Feel free to share your thoughts in the comments!
And remember, discussions within the TradingView community are a great way for all of us to improve our trading skills and grow together.

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