Nasdaq achieves bearish targets 17/8/2023

The Nasdaq index continued to achieve losses during the previous session’s trading to succeed in achieving the official target that was required to be touched in the last technical report at 14و850, recording its lowest daily trading at 14و823.

Technically, we tend in our trading to be negative, but with caution, depending on the stability of trading below 15,045, and most importantly 15,060, the previously broken support, in addition to the continuation of the stability of the RSI below the midline 50.

Therefore, the bearish scenario remains the most likely during today’s session, targeting 14,770 first, and the losses may extend later towards 14,660 next stations.

The breach to the upside and the price consolidating above 15,065 can thwart the downside attempts, and the index begins to gain bullish momentum to visit 15,210.

Note: Today we are awaiting high-impact economic data issued by the US economy “unemployment benefits” and may witness high price volatility.

Note: The risk level may be high.

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: 14770	R1: 15045
S2: 14660	R2: 15210
S3: 14490	R3: 15320