Nasdaq(a 4-hour chart)
Nasdaq opened lower on Monday on the back of oil prices decrease and revived hopes that the Fed will hike the rate next week.
The index was under pressure during the Asian session on Monday. Nasdaq bounced off the level 4630 and erased some of its losses during the North American hours. The price is well below its 50, 100 and 200 EMAs in the 4 hours chart. The moving averages are turning south. The resistance is seen at 4680, the support is at 4650.
MACD decreased which confirms the strength of sellers. RSI is in the oversold territory
We expect a further recovery towards 4680 now. Should this mark be reached successfully, a further extension towards 4700 is possible.