Current price: 25080
Key point: 24600
Our preferred strategy: Buy positions above 24600 with a first target of 25380 and then a second target of 25600.
Alternative scenario: Stop loss and trend reversal upon breaking the 24500 level, targeting the 24300 level.
Technical commentary
The Nasdaq index managed to rise from the pivotal support level of 24400 and then break through the resistance level of 24600, while also breaking through the downtrend line from last month's peak.
Currently, if the index breaks through the next resistance level at 25080 and holds above it, it will head towards the 25380 level.
