Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The Nasdaq index achieved a positive outlook as expected, touching the official target station during the previous technical report at 15,380, recording its highest level at 15,390.
On the technical side today, we are positive in our trading depending on the positive impulse from the simple moving averages and the positive momentum signals from the 14-day momentum indicator.
From here, and with the price consolidating intraday above 15,340, and in general, above 15,300, the bullish slope is the most favourable, targeting 15,465 as the first target and then 15,570 next station, which may extend later to visit 15,600.
Return of trading stability again below 15,300 will immediately stop the expected bullish trend and put the index price under strong negative pressure, targeting 15200. Note: the risk level is high.
Note: Today we are waiting for high-impact economic data issued by the US economy, “US inflation data, producer price index” from England, and we are waiting for “Gross Domestic Product”, 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.
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