Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The Nasdaq index achieved the bearish target required to be touched during the previous technical report, located at 12,5260, recording its lowest level at 15,252.
On the technical side today, we are keeping our negative expectations, but with caution, relying on trading stability below the 50-day simple moving average and the negative signals coming from the 14-day momentum indicator.
From here, and with the stability of intraday trading below 15,430, the bearish slope is the most preferred, targeting 15,270 as the first target, and breaking it increases and accelerates the strength of the daily downward trend, paving the way for the index to visit 15,230, and after that 15,180, the waiting station.
Trading stability again above 15,430 will immediately stop the expected bearish trend and lead the index to restore the bullish path with the target of 15,505 & 15,570
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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