Nasdaq Index Analysis

The Nasdaq in the Short and Medium Term

The Nasdaq has pulled back near the 29,000-point level, where it is trading within a descending wedge on the 4-hour chart.

We expect a return to an uptrend in the coming period, driven by the positive divergence of the MACD indicator on the four-hour chart, with our initial target being the upper boundary of the descending wedge at approximately 29,250 points, followed by 29,500 and finally 29,900 points.

It is possible to buy a portion of the index at current prices and wait for any pullback near the lower boundary of the wedge to buy the remainder of your contracts at approximately 28,900 points and test that level.

The bullish scenario fails if the index breaks below 28,550 points.