18, July 2016

Nasdaq (a 4-hour chart)

Nasdaq (a 4-hour chart)

General overview

The Bonds Market in the US remained optimistic due to the positive macroeconomic data in the US.

Current situation

The index was neutral on Friday. The Nasdaq remained in a narrow side channel. The resistance is at 4600, the support is seen at 4550.

MACD decreased which indicates the buyers’ positions weakening. The indicator still gives a buy signal. RSI left the overbought area and moved downwards that also supports sellers.

The price broke the 50-EMA and touched the 100-EMA in the 1 hour chart. The 50, 100 and 200 EMAs direction is upwards which is a buy signal.

Trading recommendations

We expect the price to remain at the current levels and will fluctuate between 4600 and 4550.