20, September 2016

Nasdaq(a 4-hour chart)

General overview

Wall Street opened higher on Monday. Oil prices growth supported the North American stocks which will be keeping a close eye on the Fed meeting this Wednesday.

Current situation

The index was positive on Monday. The price was able to continue its growth, buyers pushed the price from 4800 to 4835. Nasdaq is above the moving averages which are neutral in the 4 hours chart. The resistance is seen at 4835, the support is at 4800.

MACD remained in the positive area. The histogram grew which indicates the buyers’ strength. RSI bounced from the overbought area

Trading recommendations

The overall outlook remains bullish, for rise towards 4865 resistance area.