Prediction and Analysis of the Upcoming Movement of the US Nasdaq Index

The Nasdaq index has reached the daily supply zone, from which it previously rebounded, as shown on the chart.

Currently, the index is showing signs of reversal on the daily timeframe, which could push it down again.

Expected Scenarios

Currently, we have several possible scenarios on the daily timeframe.

The first scenario, which is currently the most likely, is if today's candle closes down near the low. In this case, we expect to see the index decline to the targets near the 29,000 and 28,200 levels, respectively.

The second scenario is an upward move, provided that the daily candle breaks and closes above the current supply zone. In this case, the index is expected to continue its upward trend to the 31,500 and 32,200 levels, respectively.

In any case, please pay close attention to managing your capital.