Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The Nasdaq index presented positive trading at the beginning of this week’s trading within the upward directional movement, recording its highest level of 16765.
On the technical side, we find that the upward trend is still in place, relying on the positive motivation coming from the simple moving averages that continue to carry the price from below and are stimulated by the 14-day momentum indicator’s attempts to gain positive momentum.
Therefore, the upward trend is the most preferred during the day, knowing that the price’s consolidation above 16790 facilitates the task required to visit 16860 as the first target and the gains extend later towards 16960.
As a reminder, the return of daily trading stability below 16620 postpones rising opportunities and places the index under temporary negative pressure, with a target of 16510.
Warning: Risks are high.
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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