Nasdaq maintains positive stability 18/7/2023

The Nasdaq index maintained its extended gains within the expected bullish path during the previous technical report, recording its highest level during the first weekly trading, 15,747.

On the technical side today, we tend to be positive in our trading depending on the positive impulse coming from the simple moving averages, in addition to the positive signals coming from the relative strength index on the short time frames.

From here, and with the price consolidating intraday above 15,580, and most importantly 15,560, the bullish slope is the most favorable, targeting 15,780 first target, and then 15870 next station.

We remind you that the return of trading stability again below 15,560 will immediately stop the expected bullish trend and put the index price under strong negative pressure, targeting 15,440

Note: the risk level is high.

Note: Today we are awaiting high-impact economic data issued by the US economy “retail sales” and from Canada, we await the “consumer price index” and we may witness high volatility at the time of the news release.

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: 15560	R1: 15780
S2: 15440	R2: 15875
S3: 15340	R3: 16000