Current price: 30560
Key point: 30300
Our preferred strategy: Buy positions above 30300 with a first target of 31000 and then a second target of 31200.
Alternative scenario: Stop loss and trend reversal upon breaking the 30200 level, targeting the 29800 level.
Technical commentary
The Nasdaq is still in an upward trend, having broken through several resistance levels and currently trading above the support levels of 30300-30225. If it breaks through the 30635 level, the index will then head towards the 31000 level and then the 31200 level, forming new highs.
