Current price: 15933
Key point: 15830
Our preferred direction: selling positions below 15830 levels, targeting 15625 as the first target, then 15520 as the second target.
Alternative scenario: Stop loss and change the trend by breaking the 15830 level, targeting 16200 levels
Technical commentary
The US Nasdaq index is moving in an upward direction on the daily frame from the bottom of last October and from the 200-day moving average until it reached the pivotal resistance levels 15828-15930, forming a Harmonic SHARK pattern with a 113% Fibonacci retracement of the XA leg.
If the index can break and close below these levels, it will be a serious correction opportunity by targeting 15520 levels
