Current price: 14747
Key point: 14700
Our preferred direction: buy positions at the highest levels of 14700, targeting 15100 as the first target, then 15300 as the second target.
Alternative scenario: Stop loss and change the trend by breaking the 14700 level, targeting 14400 levels
Technical commentary
The US Nasdaq index is moving in a downward direction on the daily time frame from last month’s peak from the resistance levels of 15635 until it reached the strong support levels of 14600-14700.
The ALT BAT harmonic pattern was formed with a 113% Fibonacci retracement of the XA leg
The price is expected to rise to levels 15312-15416
Then we wait for price behavior from there to witness the decline again
