NQ1! Bearish Breakdown - Key Support Test at 21,550NQ1! is at a critical decision point after rejecting resistance around 21,967-22,050 and breaking down with increased sell volume. The price has fallen below both the 9 EMA (21,666) and 21 EMA (21,737), signaling a shift in momentum to the downside. Now, it’s testing a key support zone near 21,553-21,575 (daily low), which will determine the next major move.
If 21,550 breaks with strong volume, it confirms continued selling pressure, making it a short opportunity with targets at 21,400 and 21,350. A stop-loss above 21,600 helps manage risk in case of a fake breakdown. On the other hand, if buyers defend 21,553 and push price back above 21,600, it could trigger a bounce toward 21,650-21,750, offering a long opportunity.
Right now, sellers have control, and a breakdown looks more likely. However, if demand steps in at this level, a reversal could provide a solid scalp trade. Watching volume and price action for confirmation before taking a position.
#NQ1 #Nasdaq #Futures #DayTrading #Breakout #Bearish
