Nasdaq retests support 13/10/2023

Trades that tended to be positive dominated the movements of the Nasdaq index within the expected upward path during the previous technical report, touching the first target of 15350, recording its highest level of 15340.

On the technical side today, we are leaning toward temporary negativity during the coming hours, relying on the stability of intraday trading below the resistance level of 15300, and most importantly 15300, with signs of negativity appearing on the Stochastic indicator.

Therefore, the bearish bias is most likely in the coming hours, targeting a retest of 15080, and breaking it may extend losses to visit 14950.

As a reminder, the return of trading stability above 15330 invalidates the activation of the bearish tendency, and we may witness a trading session tending to the positive, with an initial target of 15465.

Note: Trading on CFDs involves risks. Therefore, all scenarios may be possible. This article is not a recommendation to buy or sell but rather an explanatory reading of the price movement on the chart.

S1: 15080	R1: 15330
S2: 14950	R2: 15465
S3: 14820	R3: 15585