29, June 2016

Nasdaq (a 4-hour chart)

Nasdaq (a 4-hour chart)

General overview

The Bonds Market of the USA recovered after a sharp decline due to the referendum in the UK. Nasdaq Composite rose by 2.05% during Tuesday. However uncertainty regarding the future of Great Britain held investors from active trades.

Current situation

The index recovered and succeeded with it having gained more than 2%. The new local high is at 4279. The resistance comes at 4300, the support exists at 4250.

The indicators recommend long positions. MACD is in the negative area; its histogram grew on Tuesday. If the histogram keeps growing we will get a buy signal. RSI bounced from the oversold area. If the oscillator grows, that will be another buy signal. The Moving Averages (50, 100 and 200) direction is downwards and that is a sell signal.

Trading recommendations

If Nasdaq keeps recovering it will grow to the resistance at 4300. If the price makes another attempt to drop we will see its decrease back to 4200.