Current price: 27660
Key point: 27000
Our preferred strategy: Buy positions above 27,000 with a first target of 27,800 and then a second target of 28,500.
Alternative scenario: Stop loss and trend reversal upon breaking the 26700 level, targeting the 26400 level.
Technical commentary
The Nasdaq is moving above an upward trend line from the low of last March and above the 200 moving average on the four-hour timeframe and above the support level of 26800. With a break above the pivotal resistance level of 27500, the price will head towards the levels of 27800 and then the levels of 28500.
