Nas100: Trading Levels in Focus

Supply Zones (Red)
23,853 - 23,873
A strong supply zone near recent highs. Sellers are expected to defend aggressively here, making it a potential rejection area. A confirmed breakout and retest, however, could open the path toward new highs.

23,742 – 23,759
This zone reflects last week’s high-volume rejection. Acts as an intraday decision area: sharp rejections can trigger short setups, while a clean break and hold above would strengthen bullish momentum.

Demand Zones (Green)
23,553 – 23,573
A fresh demand zone aligned with recent breakout structure. Buyers may attempt to defend here for continuation longs. If broken, the zone flips into resistance, adding downside pressure.

23,473 – 23,500
Well-tested support area with prior absorption. Strong bounce potential, but multiple retests increase the risk of a breakdown. A failure here would likely accelerate bearish momentum.

Overall Sentiment: Cautiously Bullish on Fragile Ground
At its core, the market is cautiously optimistic right now. Positive momentum from Big Tech and expectations of looser monetary policy are fueling short-term upside potential. At the same time, consolidation and uncertainty around macro data keep sentiment restrained. Momentum is present but it relies on breakout moves holding.