Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The Nasdaq index achieved notable gains at the beginning of weekly trading, succeeding in recording its highest level of 17451.
On the technical side today, the upward trend is still the most likely, relying on the simple moving averages continuing to provide a positive incentive that supports the possibility of an increase and is stimulated by trading stability above the support level of 17300 and most importantly 17280.
Therefore, we believe that there are opportunities for a rise, provided that we witness a clear and strong breach of the resistance level of 17450, which will extend the index’s gains, as we await 17520, the first target, and then 17,585, the next official station.
Sneaking below 17280 is capable of completely foiling the bullish scenario and leading the index to present negative movements with a target of 17210.
Warning: The level of risk is high amid continuing geopolitical tensions, and we may witness high price volatility.
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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