The NAS100 has been in an overall uptrend, as evidenced by the higher highs and higher lows. However, there has been a recent pullback from the most recent high. Key Levels: The analyst has identified a few key levels: Buy-side liquidity (LQ): Around 19,468.56. This is a level where large buy orders are expected, potentially leading to a price bounce. Sell-side LQ: Around 20,465.54. This is a level where large sell orders are anticipated, potentially causing a price drop. Current Price: The NAS100 is trading around 19,520.70, slightly above the buy-side LQ. Potential Scenarios: Bullish Scenario: If the price bounces from the buy-side LQ and breaks above the recent swing high, the uptrend could resume. Bearish Scenario: If the price fails to hold the buy-side LQ and breaks below the recent swing low, the downtrend could continue. Neutral Scenario: If the price consolidates between the buy-side and sell-side LQs, the market might remain range-bound.
Analyst's Notes:
The analyst is looking for a potential long (buy) opportunity if the price reacts to the buy-side LQ. They believe that the recent pullback could be a temporary correction in the broader uptrend. However, they also acknowledge the possibility of a continued downtrend if the price breaks below the buy-side LQ and fails to recover.
The analyst mentions the "tech crash" on Thursday and Friday as a potential factor influencing the recent market weakness. They anticipate that as things normalize, the price could potentially push back up.
Additional Notes:
The chart timeframe is set to 4 hours. Several technical indicators are visible, but their specific interpretations are not provided in the analyst's notes. The chart includes volume information, which can be helpful in assessing the strength of price movements.
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