Nasdaq(a 4-hour chart)
The Oil & Gas and Consumer Services sectors positive data supported the U.S. stocks on Friday.
Bulls fought back control and returned prices to the local high. NASDAQ rallied and closed the day in the green figures above 4865. The index bounced from the 100-EMA in the 4 hours chart. The 100 and 200 EMAs present a moderately bullish slope. The 50-EMA accelerated its growth. The resistance is seen at 4865, the support is at 2150.
MACD indicator is at the centerline. If the histogram enters the negative territory, that will indicate sellers’ growing strength. If MACD returns into the positive area the buyers will take control over the market. RSI approached the overbought area.
The bullish tone prevails in the market. The price may dip to 4800 to bounce back upwards.