07, June 2016

Nasdaq (a 4-hour chart)

Nasdaq (a 4-hour chart)

General overview

The external environment was positive for the index. Nasdaq rose by 0.26%. The major US stock indices showed a moderate growth.

Current situation

The index Nasdaq was in a flat during the European session of Monday. The index started to grow by the end of Monday. It bounced from the mark 4506 and grew to the way of 4550. The index looks bullish. The resistance is at the level of 4550, the support is at 4500.

The indicator MACD is in a positive area and keeps decreasing. RSI approached the overbought level of 70.

Trading recommendations

The index is likely to go to the support level of 4500.