Current price: 28545
Key point: 28865
Our preferred strategy: Sell positions below 28865 with a first target of 28430 and a second target of 28200.
Alternative scenario: Stop loss and trend reversal upon breaking the 29000 level, targeting the 29200 level.
Technical commentary
The price is settling below the 200-period moving average on the four-hour timeframe and below the pivotal resistance level of 28865, so the Nasdaq is expected to continue its decline to the 28430 level, and then if it breaks through it, it will head towards the 28200 level.
