The current price: 12431
Key point: 12866
Our preferred direction: selling positions below 12866 levels, targeting 12235 as a first target, then 11906 as a second target
Alternative scenario: stop loss and change direction by breaking 12866, targeting 13000
Technical comment
The NASDAQ index reached the pivotal resistance levels on the daily time frame at 12866, which corresponds with the harmonic cypher and AB=CD patterns, so that the price is expected to drop to 11906-12074