Current price: 29600
Key point: 29400
Our preferred strategy: Buy positions above 29400 with a first target of 29950 and then a second target of 30245.
Alternative scenario: Stop loss and trend reversal upon breaking the 29300 level, targeting levels of 29120.
Technical commentary
The Nasdaq index is holding above the support levels of 29335-29415 and above the 200-period moving average on the four-hour timeframe.
The price is expected to continue rising to levels of 29950, and then, if it breaks through that level, it will head towards levels of 30245.
