The SMC (Smart Money Concepts) analysis performed on the US100 (Nasdaq) 1-hour chart indicates that the market has entered a structural shift (CHoCH) phase following a significant macro downtrend. The bearish structure dominating the left side of the chart concluded with the sweep of the Sell-Side Liquidity (SSL) zone around the 22,820 levels. The 'Liquidity Sweep' operation executed in this area resulted in institutional buyers stepping in, and the price accelerated aggressively to the upside. This sharp rally confirmed the 'Change of Character' (CHoCH) signal by breaching the last significant lower high of the downtrend.
The current price stands at 24,162 and is testing the local resistance zone around 24,200. According to ICT methodology, the Fair Value Gaps (FVG) and Imbalance areas formed during the upward impulse are the primary target points in the event of a price retracement. Specifically, the 'Bullish Order Block' and 'Mitigation' zone located in the 23,300 - 23,500 band are considered the healthiest correction areas for trend continuation. A reaction from this zone would support the price's journey toward the 'Buy-Side Liquidity' (BSL) pools at higher levels, namely the 24,500 and 25,000 marks.
In the current state of the trend, we can say that momentum has shifted in favor of the bulls; however, the 'Supply Zone' in the 24,450 - 24,620 range remains the biggest obstacle ahead of the price. This zone represents the institutional sell block where the previous aggressive sell-off originated. If the price makes a candle body close (BOS - Break of Structure) above this zone, targeting the peaks around the 25,300 level will be inevitable. At this stage, it would be strategically safer for investors to remember that they are in the 'Premium' (expensive) zone and to wait for a retracement into the 'Discount' (cheap) zone or a structural breakout above 24,200 for new long positions. (Not Financial Advice)
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