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An upward trend prevails in the Nasdaq index, demonstrating a gradual ascent and reaching its highest level during American trading at 16835.
From a technical standpoint, the upward trend remains intact, drawing support from the positive motivation provided by the simple moving averages, which continue to guide the price from below. The Stochastic indicator is working to shed negativity and gain new momentum, aiming to facilitate an upward attack.
Given the current technical dynamics, the upward trend is favored for the day. The consolidation of prices above 16840 is crucial, easing the path for a visit to 16880 as the initial target, with potential gains extending towards 16920. Breaking the 16920 level would amplify and accelerate the strength of the upward trend, paving the way directly towards 17010.
It is important to note that a return of daily trading stability below 16740 would defer the prospects of an upward movement and temporarily subject the index to negative pressure, targeting 16650.
Warning: Risks are considered high.
Warning: The overall risk level is elevated, particularly given ongoing geopolitical tensions, and increased price volatility may be observed. Caution and prudent risk management are recommended.
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.
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