Nasdaq(a 4-hour chart)
The index slightly changed on yesterday’s trades. The price stayed in a tight range around 4850. The price stayed above the moving averages. The 200-EMA is neutral in the 4 hours chart. The 50-EMA crossed the 100 and 200 EMAs upwards. The 50 and 100 are heading higher. The resistance is at 4865, the support comes in at 4830.
MACD decreased which indicates the buyers’ positions weakening. RSI stayed within neutral area.
The near-term upward trend remained intact. A break above 4865 will rise prices to 4884 and 4900. A move below 4830 will reinforce sellers’ positions. If they start to challenge this 4830 area it is likely to break.