Technical Analysis

Nasdaq falls beneath shut MA stage. Can it keep beneath?

Down close to 1% on the day as positive aspects erased after which some

The Nasdaq is reaching to new session lows and within the course of has moved beneath its 50 hour MA at 7542.347.  Within the final two weeks, the worth dipped beneath that MA however just for an hour or two, earlier than rebounding again greater. That is the third look. Is it the appeal? 

Down near 1% on the day as gains erased and then some

If it stays beneath, the 100 hour MA is available in at 7487.97 (blue line). That MA was final examined on January 29th the place help consumers leaned and utlimately pushed the worth greater. 

Search for sellers towards the 50 hour MA. If the worth can keep beneath, the highs could also be in for the index in the intervening time (with the 100 hour MA a key goal beneath). 

ForexLive


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