Nasdaq (a 4-hour chart)
The US stock indexes fell due to the increased traders’ nervousness before the meeting of the Fed and the referendum in the UK.
The index tried to recover on Tuesday. Nasdaq reversed to 4430. Sellers returned to the market at the American session and sent the price down. The index fell through the support 4400 and stopped at 4383. The resistance comes at 4400, the support is at 4350.
MACD is in the negative area that is a bearish signal. RSI is in the oversold area. If the line leaves the oversold area upwards we shall get a buy signal. The index broke through the 200 Moving Average. The 50 and 100 Moving Averages are above the price.
We believe the index shall decrease until the Fed announces its decision regarding the rate. The weakness of the market can send the index to the support 4350. Nasdaq can bounce to 4440.