NASDAQ index stays beneath stress.

The NASDAQ index continues to fall. In premarket buying and selling in the beginning of the US session, the index was up round 50 factors. The present value is down -246 factors or -1.29% at 18743.80. The low value reached 18724.39.

Wanting on the hourly chart, the value is approaching its 200 hour shifting common at 18675.91. In buying and selling on Friday, the value briefly dipped beneath that shifting common line however bounced larger. Under the 200 hour shifting common is a upward sloping trendline which cuts throughout at 18575 at present. We beneath these ranges would improve the bearish bias and have merchants wanting towards the 38.2% retracement at 18340.73.

On the highest facet, a transfer again above the 100 hour shifting common at 18874.89 is required to provide the patrons some added confidence.

This text was written by Emma Wang at www.ubaidahsan.com.



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