Saad Ullah
⬤ The NASDAQ 100 just completed a technical breakout following an extended squeeze. Price pushed through a descending resistance line that had been capping rallies, marking a clear shift in near-term momentum. After the initial move higher, US100 pulled back toward the breakout zone—a typical retest pattern that often confirms new support.
⬤ The chart reveals a transition from compressed price action into a rising structure with higher lows forming along an upward-sloping support line. The descending resistance that dominated earlier price action has been cleared, showing that selling pressure from that zone has faded. This development suggests downside momentum has stalled while buyers work to establish control above what was previously a ceiling.
⬤ The current pullback doesn't negate the breakout. Price is still trading above the rising support trendline with no decisive close below the former resistance area. In similar technical patterns, retests of breakout levels typically confirm support rather than signal failure. As long as this structure holds, the upward bias remains technically valid and the path for further gains stays open under present conditions.
Saad Ullah
