NQ Near Resistance Level

US100 has started an upside move after a big drop.

Currently, price is approaching to the resistance level around 16460, which has been tested and pushed the price to the downside in the past.

I expect a downside push from the red resistance level to retest the yellow level around 16120, and if there was any bullish signal on the yellow area, we can expect a rise to the last major high around 16770

Otherwise, if price breaks the yellow level to the downside, the bullish scenario will be invalid and we expect more drop on NQ around 15800 which is a demand zone.