Current price: 20000
Key point: 19900
Our preferred direction: Buy positions above 19900 levels with 20300 as a first target and then 20500 as a second target.
Alternative scenario: Stop loss and change the trend by breaking the 19900 level, targeting the 19500 levels.
Technical commentary
The index fell from the resistance levels of 20655 after rising throughout October, and the Nasdaq is approaching the support levels of 19900-20000 at the ascending trend line with the formation of the harmonic BAT pattern, so it is expected that the index will rise again from these levels to reach the levels of 20300 and then the levels of 20500.
