Nasdaq 100 SPOT
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Nasdaq 100 Analysis

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On a 4-hour chart A bearish head and shoulders pattern has formed, indicating potential downside momentum. The entry point is defined around the 21,190 level with a stop-loss (SL) set at 21,680 to manage risk effectively. The target point aims for potential gains towards the 20,400 mark based on historical support levels and technical indicators aligning in favor of this bearish trend continuation. Fundamental factors also suggest caution due to recent macroeconomic developments impacting tech stocks within the index. Traders should monitor volume and market sentiment closely as they execute this strategy for optimal results.
NOTE: This analysis is for informational purposes only and does not constitute financial advice.
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