Current price: 25600
Key point: 25350
Our preferred strategy: Buy positions above 25350 with a first target of 26225 and then a second target of 26500.
Alternative scenario: Stop loss and trend reversal upon breaking the 25200 level, targeting levels of 26130.
Technical commentary
The Nasdaq index is moving in an upward trend, above the 200-period moving average on the four-hour timeframe and above the support levels of 25335-25475.
If the resistance level of 25800 is breached, a further rise to 26225 and then 26500 is expected.
