17, June 2016

Nasdaq (a 4-hour chart)

Nasdaq (a 4-hour chart)

General overview

The US stocks declined on Thursday after the US Federal Reserve left the interest rates unchanged. The USA regulator warned about slowing of economic growth if the Great Britain leaves the EU.

Current situation

The index decreased the part of Thursday. Nasdaq lost about 0.40% during the day. The index touched 4350 and bounced away. The Thursday trades the index ended around the mark of 4440. The resistance comes at 4440, the support is at 4350.

MACD is in the negative area. The histogram grew, we received a buy signal from MACD. RSI is above the oversold area. If the line leaves the oversold area upwards we shall get a buy signal. There was a crossover on the Moving Averages (50 and 100). The 200 Moving Average direction is horizontal. The 50 and 100 Moving Averages direction is downwards. The 200 Moving Average is a resistance.

Trading recommendations

The index can recover to 4440. If Nasdaq consolidates above 4440 the price may return to a growth. If the pair manages to breakout 4350 it may decrease to 4300.