Stock index NASDAQ is trading at 6768. The index is trading below the lower limit of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend on the NASDAQ. A test of the lower boundary of the Ichimoku Kinko Hyo Cloud is expected near the level of 6950, from which we can expect an attempt of a rebound and the development of a downward trend in order to fall near the level of 6350.
NASDAQ prediction & analysis October 31, 2018
An additional signal in favor of the fall of the index will be the test of the upper boundary 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 crossing of signal lines at the level of 7160.
Cancellation of the option to reduce stock exchange index quotes will be the breakdown of the upper limit of the Ichimoku Kinko Hyo Cloud with the closing of quotes above 7150, indicating a change in the downward trend in favor of upward and continued growth. The NASDAQ is expected to accelerate the fall in quotes with the breakdown of the support area and closing below 6550.
NASDAQ prediction & analysis October 31, 2018 suggests an attempt to test the resistance level near the 6950 area, from where we can expect the NASDAQ to continue to decline with a potential target near the level of 6350, a strong growth and the breakdown of the 7150 area will cancel the drop option.
