Nasdaq(a 4-hour chart)
Wall Street opened lower on Monday on the back of the first debate between U.S. presidential candidates Hillary Clinton and Donald Trump.
The index got under selling pressure from the very beginning of the day. Sellers pushed the price towards the 4800 region through 4835. The 50-EMA stopped the downward movement. The 50-EMA accelerated its growth. The 100 and 200 EMAs maintained its moderate bullish slope. The resistance is seen at 4835, the support is at 4800.
MACD decreased which confirms the strength of sellers. RSI reached the oversold area.
We expect a short-term correction and a continuation of the downward momentum. The level 4800 is the next sellers’ target. In case of a recovery the price will grow towards 4850.