NAS100 analysis forecast, 12-May

The breakdown of the tools and target used in your NAS100 (US Tech 100) 2h chart:


*Tools Used:*

1. *Support & Resistance Zones:*

*Resistance Zone:* Highlighted near the 20,800 - 21,000 range (marked at the top).
*Support Zone:* Highlighted near 19,200 - 19,400 range (marked below).

2. *Trendline:*

* An upward sloping *trendline* connecting higher lows, indicating bullish structure until the current point.

3. *Price Action Patterns:*

*Price is approaching resistance and has formed a potential *double top / bearish rejection pattern*.
*There’s a marked area showing a possible *trendline break*.

4. *Arrow Projections:*

*Green Arrow Down:* Suggests a bearish projection after breaking below trendline & resistance rejection.
*Small Blue Arrow:* Indicates the immediate bearish move after trendline break.

5. *Volume/Indicator:*

*RSI (Relative Strength Index):* At the bottom, indicating possible overbought conditions approaching 70.

6. *ATR-like Bands / Indicators:*

*Red & green bands possibly resembling a *Keltner Channel or custom volatility band* to show dynamic S\&R.


*🎯Target Clarification:*

*Target Zone:* A bearish drop towards the *support area (19,200 - 19,400)*.
* The orange highlighted area shows a *price drop of -1,286.75 points (-6.02%)*.
* Target price mentioned around *19,420*.


*📉Summary View:*

* Price is facing strong resistance.
* Potential *trendline break confirmation*.
* *Bearish target:* \~19,400 zone.
* RSI hints at possible exhaustion in bullish momentum.


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