08, July 2016

Nasdaq (a 4-hour chart)

Nasdaq (a 4-hour chart)

Current situation

The index consolidated trading close to the level 4440. Nasdaq traded in s sideways after a Wednesday’s rally. The resistance comes at 4440, the support exists at 4400.

The indicators are in the green zone and recommend long positions. MACD is in the positive area; its histogram remained at the same level, it is a buy signal. RSI is close to the overbought area. If the oscillator grows further, that will be a buy signal. The 200-EMA acts as a support for the index and does not let it fall below in the 4 hours chart. The 200-EMA direction is horizontal. The 50-EMA is turning upwards, the 100-EMA is moving downwards.

Trading recommendations

We expect the 4440 line break that will open the way for the sellers to 4350.