NASDAQ Potential Bearish Reversal Analysis

NASDAQ Potential Bearish Reversal Analysis 🧠🔻

The chart illustrates a potential bearish setup forming after a recent uptrend in NASDAQ. Let's break it down professionally:

🔍 Technical Overview:
Ascending Trendline Break ✅

Price had been respecting a steady ascending trendline.

A break below this trendline indicates a possible momentum shift from bullish to bearish.

Bearish Pattern Formation 🔷

A bearish flag/pennant-like formation can be observed after the sharp rise.

This consolidation followed by a breakdown could be a continuation pattern, hinting at further downside.

Resistance Rejection 🔴

A red arrow marks a clear rejection from the resistance zone near 22,800 USD.

Strong wick rejections and bearish candles suggest selling pressure at that level.

Support Turned Resistance (SUPPOT 🛑)

The previously broken support zone is now acting as resistance (note: "SUPPOT" appears misspelled—should be "SUPPORT").

Bearish Target Zone 🎯

The chart marks a "TAEGET" zone (should be "TARGET") near the 21,900 – 22,000 USD range.

This aligns with prior consolidation and demand zones, making it a likely area for price to retrace.

📌 Key Zones:
Resistance (Rejection Area): 22,800 USD

Current Price: 22,739.7 USD

Bearish Target Zone: 21,900 – 22,000 USD

⚠️ Conclusion:
The market shows signs of a bearish reversal with a confirmed trendline break, resistance rejection, and bearish pattern formation. If the price fails to reclaim the 22,800 level, there’s a high probability of downward continuation toward the 22,000 target.