Current price: 30460
Key point: 30300
Our preferred strategy: Buy positions above 30300 with a first target of 30650 and then a second target of 31000
Alternative scenario: Stop loss and trend reversal upon breaking the 30200 level, targeting the 29800 level.
Technical commentary
The Nasdaq index is holding above the pivotal support levels of 30300-30225, above the 200-period moving average on the four-hour timeframe, and is expected to continue its upward movement towards the 30650 level. If it breaks through this level, it will then head towards the 31000 level.
