The US100 (Nasdaq) is showing a potential double top pattern on the 4H chart, indicating a bearish reversal may be underway. The price has tested resistance near 23,570 twice, failing to break higher (Top 1 & Top 2), forming a classic double top structure.
Technically:
Bearish divergence at highs
Price is rejecting resistance with confirmation candles
A break below neckline support around 22,930 could trigger downward momentum
Fundamentally:
Market sentiment is cautious due to mixed earnings reports and uncertainty around Fed policy
Rising yields and hawkish Fed expectations may weigh on tech-heavy indices
📌 Short Setup
Entry: Below 23,200
Target: 22,615 (measured move)
Stop: Above 23,570
🔻 Watching for bearish confirmation before full entry. Trade with risk management.
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This is not financial advice. Please conduct your own research and manage risk accordingly.
Technically:
Bearish divergence at highs
Price is rejecting resistance with confirmation candles
A break below neckline support around 22,930 could trigger downward momentum
Fundamentally:
Market sentiment is cautious due to mixed earnings reports and uncertainty around Fed policy
Rising yields and hawkish Fed expectations may weigh on tech-heavy indices
📌 Short Setup
Entry: Below 23,200
Target: 22,615 (measured move)
Stop: Above 23,570
🔻 Watching for bearish confirmation before full entry. Trade with risk management.
Note: If you found this helpful, like and follow for more trade ideas!
Share My Idea With Your Firends Mention Your Feed back Comment Section
This is not financial advice. Please conduct your own research and manage risk accordingly.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
For More Help
Telegram @Signals_98
t.me/+HZOTWoeqVoo3M2Nk
Our Channel
t.me/+HZOTWoeqVoo3M2Nk
Telegram @Signals_98
t.me/+HZOTWoeqVoo3M2Nk
Our Channel
t.me/+HZOTWoeqVoo3M2Nk
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.