Current price: 30325
Key point: 30075
Our preferred strategy: Buy positions above 30075 with a first target of 30460 and then a second target of 30715.
Alternative scenario: Stop loss and trend reversal upon breaking the 30,000 level, targeting the 29,900 level.
Technical commentary
The Nasdaq index rose from the pivotal support level of 30075 and the 200-period moving average on the hourly timeframe, suggesting the price is expected to continue its upward trend to 30460. A break above this level would then target 30715.
