Nasdaq Analysis on the Daily Timeframe and Expected Scenarios

The Nasdaq index has resumed its sharp decline in an expected correction after rising to previous resistance levels, from which the index had previously fallen, as shown on the chart.

Currently, during this corrective movement, the index has approached very important and strong support levels, allowing us to consider several possible scenarios for its movement on the daily timeframe.

Expected Scenarios

As mentioned, we currently have several possible scenarios for the upcoming movement.

The first scenario is an upward move from the demand zones identified near the 25224 level. These are strong levels and align with the upward trend shown on the chart, making them one of the most important expected buying areas for the index at present.

The second scenario is a decline and continuation of the corrective movement, but this is contingent on breaking the demand zones and the upward trend line and closing below them with a daily candle. In this case, we might see the index drop to the next demand zones near the 24260 level.

In any case, it is very important to closely monitor the index and it is preferable to wait for any price action on a lower timeframe to reduce risk and use stop-loss orders.