Current price: 15184
Key point: 15312
Our preferred direction: sell positions below 15312 levels, targeting 15040 as the first target, then 14960 as the second target.
Alternative scenario: Stop loss and change the trend by breaking the 15312 level, targeting 15630 levels
Technical commentary
The US Nasdaq index fell on the daily frame from the resistance levels 15416-15312 below the falling trend line from the peak of last July, as we indicated in an analysis last week.
Currently, the price is on its way to forming a bottom lower than the bottom by breaching the 15216 level, so it is expected that this decline will continue until the next support levels at 14960-15040, and if it is able to breach them, it will then head to the next pivotal support levels at 14560-14700.
