10, June 2016

Nasdaq (a 4-hour chart)

Nasdaq (a 4-hour chart)

General overview

The USA indices fell due to the oil quotes and the US Treasuries decrease. The strengthening of the dollar also weakened the index.

Current situation

Nasdaq remained in a flat. The index decreased from 4517 to the support 4500. Sellers could not push the price down and the quotes remained at the current support level. The price remained between two levels: 4550 and 4500.

MACD is on the zero line and gives no signal. RSI is in a neutral zone giving no signal. Moving Average (50) acts as a resistance now.

Trading recommendations

The break below the support of 4500 shall send the price to the mark 4460 (Moving Average 100). Otherwise we will see a bounce upwards.