NASDAQ 100 Analysis

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The NASDAQ 100 index is currently exhibiting a bearish trend within the 4-hour timeframe, suggesting a potential retracement from recent highs. After breaking below the ascending channel, price action indicates a possible move towards key support levels at 20,710 and further down to 20,050. The stop loss is set around 21,742 to manage risk effectively. Fundamentally, market sentiment remains cautious due to macroeconomic uncertainties and corporate earnings concerns. Traders should watch for any fundamental catalysts that might this technical setup.
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