Nasdaq futures technical analysis: Bulls target 29,300 while 28,950 holdsNasdaq futures are trading near 29,179 at the time of this analysis. The 30-minute chart continues to favor buyers, with price holding comfortably above today’s developing VWAP and building value at higher levels.tradeCompass prediction score: +4The path of least resistance remains higher, but NQ is approaching several important references where traders should expect at least some resistance and two-way price action.Nasdaq futures bullish above 28,950The central line in the sand is 28,950, approximately the July 20 VWAP. As long as price remains above this level, buyers retain the upper hand on the 30-minute timeframe.Today’s developing value area high near 29,195 is the first immediate hurdle. A brief rejection would not necessarily damage the bullish structure. Sustained acceptance above it would strengthen the case for continuation toward the July 16 references.Bullish partial profit targets29,292: Positioned just before the 29,300 July 16 POC, which may act as today’s primary upside magnet.29,362: Just below the 29,370 July 16 VWAP.29,482: Ahead of the 29,490 July 16 value area high, a more substantial resistance reference.These targets are placed slightly before the visible levels to improve the likelihood of execution if other traders take profits at the same widely watched references.Where buyers may defend a pullbackTraders do not necessarily need to chase NQ near the developing value area high. Several potential support areas sit below the current price:29,065: The July 20 value area high and the first meaningful pullback support.29,007-28,980: A stronger support cluster combining the July 17 value area high, the psychological 29,000 level and today’s developing VWAP.28,950: The decisive bullish-bearish boundary for this intraday map.The 29,007-28,980 area may be particularly important. Buyers defending this cluster would preserve the higher intraday structure while offering a more favorable location than chasing near resistance.Remember that today’s VWAP is still developing and can move as additional volume enters the market.Nasdaq futures bearish below 28,950A sustained break below 28,950 would weaken the bullish thesis and suggest that the market is losing acceptance above the previous session’s VWAP.The first downside objective would then be approximately 28,875-28,850, where additional value-area references may attract buyers. Below that zone, the map should be reassessed rather than forcing deeper targets from a chart focused primarily on the past three sessions.A momentary move below 28,950 is not necessarily sufficient. Bears would want to see continued trading below the level or a failed attempt to reclaim it.Nasdaq tradeCompass summaryThe current intraday structure remains bullish while NQ holds above 28,950. The most likely upside sequence is 29,300, followed by 29,370 and potentially 29,490.Pullbacks toward 29,065 or the broader 29,007-28,980 support cluster may attract buyers. Traders considering shorts have little technical support from this three-day map unless price first loses and remains below 28,950.After the first partial target is reached, and certainly after the second, traders should consider moving the stop to entry or reducing risk aggressively. Nasdaq futures can reverse sharply around prior VWAP and value-area levels.This analysis concerns Nasdaq futures rather than the Nasdaq cash index. Trade at your own risk. This article was written by Itai Levitan at investinglive.com.