US Nas100 — Descending Channel Reaction

Price is reacting off the Monthly Open (28,191.8) inside a well-defined descending channel on the 4H. A corrective bounce toward the upper trendline (29,196.9) is the higher-probability near-term path before the channel likely reasserts control.

Key levels:
- Support/bounce zone: 27,688–27,900
- First target: 28,600
- Trendline resistance: 29,196.9
- Invalidation: below 27,500

A confirmed rejection at 29,196.9 opens the door for continuation lower through the channel toward 26,409.5.

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