Upon analyzing the Nasdaq index in the four-hour timeframe, the price is moving within an ascending channel and has reached the support zone at 1746. If the price can break out of this support level, we can predict a potential movement towards the support levels at 1713 and 1691.In an alternative scenario, if the price can break out of the resistance zone at 1764, we can anticipate a potential movement towards the resistance level at 1794.
Trade closed: target reached