Nasdaq Making Noticeable Gains And Positivity Needs Confirmation

Mixed trading dominated the Nasdaq Composite Index during the US session of the previous session, recording its highest level at 14,882, while the lowest around 14,725.

On the technical side today, we tend in our trading to the positive, but with caution, relying on the stability of the daily trading above 14,710, accompanied by the attempts of the 50-day moving average to push the price to the upside.

The bullish bias requires a clear and strong breach of the 14,800 level, paving the way for the index to visit 14,865/14,870, a first target, and the gains may extend later to visit 14,950.

Trading below 14,710 postpones the chances of rising but does not cancel them, and we may witness a retest of 14,640 and 14,560. Note: the level of risk is high.

S1: 14710	R1: 14870
S2:  14640	R2: 14950
S3: 14555	R3: 15025