Current price: 24900
Key point: 25000
Our preferred strategy: Buy positions above 25,000 with a first target of 24,600 and then a second target of 24,300.
Alternative scenario: Stop loss and trend reversal upon breaking the 25200 level, targeting the 25500 level.
Technical commentary
The Nasdaq index is moving in a downward direction from last month's peak after falling from resistance levels of 26215 until it broke the 200 moving average on the four-hour timeframe and reached below resistance levels of 25000.
If the Nasdaq remains below these levels, it could continue its decline to the 24600 level.
