Technical Analysis of the Nasdaq Index
The Nasdaq Index has risen since the beginning of the week without any notable correction. Currently, prices are consolidating sideways on the 15-minute chart, which was expected toward the end of the week. The current price action shows liquidity taken above and below the Asian session by the London session. Prices are now trading around the 24,018 level, considered a key selling zone. A bearish reaction is expected from this area to resume the sideways movement (a clear bearish price action signal is required for confirmation).

Key Economic News
Markets are awaiting today’s release of the University of Michigan’s Consumer Sentiment and Inflation Expectations data, which is expected to have a notable impact on the U.S. dollar and stock indices.

Liquidity Levels
Prices are expected to decline toward 23,980, followed by 23,950, and then 23,920. The bullish scenario on the 15-minute chart will be invalidated if prices reach 24,068.