Stock index NASDAQ is trading at 6616. The index is trading below the Ichimoku Kinko Hyo Cloud. This indicates the presence of a bearish trend on the NASDAQ. The test of the Ichimoku Kinko Hyo signal lines is expected near the level of 6680. Where should we expect an attempt of a rebound and the development of a downward trend in order to fall near the level of 6300.
NASDAQ prediction & analysis November 23, 2018
An additional signal in favor of the fall of the index will be the test of the upper limit of the downward channel. As well as a rebound from the resistance level. Earlier, a medium strength signal was received for the SELL the NASDAQ, due to the intersection of signal lines at the level of 6750.
Cancellation of the option to reduce the stock market index quotes will be the breakdown of the upper limit of the Ichimoku Kinko Hyo Cloud with the closing of quotations above 7000. This will indicate a change in the downward trend in favor of upward and continued growth. The NASDAQ is expected to accelerate the fall in quotes with a breakdown of the support area and closing below 6425.
NASDAQ prediction & analysis November 23, 2018 suggests an attempt to test the resistance level near 6680. Where should we expect continued decline in NASDAQ with a potential target near the level of 6300. The strong growth and breakdown of the 7000 area will cancel the drop option of the pair.