NQ: stock indices falling

28 September, 2015

Current trend

Today, Asian and American stock indices are falling, while the US Dollar is strengthening after commentaries by the Fed Chair Janet Yellen that the rate hike is still possible before the end of the year. The USD was also supported by the US GDP data for the second quarter of the year that showed the economy growth of 3.9%, which is 0.2% higher than previous estimates.

This week, markets attention is going to be focused on the NFPR data from the US, which could strengthen the USD if forecasts are confirmed.

The Nasdaq Composite is under pressure from expectations of the rate increase in the US and a continuous fall of the Chinese stock market.

Support and resistance

Today, the Nasdaq Composite opened with a gap and remains in the red zone below the level of 4240.0 (38.2% Fibonacci).

Thenearesttargetsonitswaydowncouldbe4185.0 (ЕМА200 on the weekly chart), 4170.0, 4135.0 (23.6% Fibonacci), 4085.0 (ЕМА200 on the weekly chart). At the same time, its growth is restricted by the levels of 4320.0 (50% Fibonacci), 4360.0 (ЕМА200 on the daily chart), 4405.0 (61.8% Fibonacci).

OsMA and Stochastic on the 4-hour and daily charts give sell signals.

Support levels: 4185.0, 4170.0, 4135.0.

Resistance levels: 4240.0, 4320.0, 4360.0.

Trading tips

Pending sell orders can be placed from the level of 4190.0 with targets at 4185.0, 4170.0, 4135.0 and stop-loss at 4260.0. 


Source link  
S&P500: will the correction continue?

Since December 2015 the index S&P500 has been in the downtrend. In February, the index fell to the level of 2108.0, which is almost 15%. In the past 4 sessions the index had adjusted, approaching the level of 1935.0...

XAU/USD: A decline is likely to continue

On the 4-hour chart, the price is testing the level of 1210.80 (23.6% correction); the ascending 38.2% fan line is an additional resistance for the price. If this resistance area is overcome, a growth would continue to 1224.90 and 1249.25...

XAG/USD: pair is falling on February 16, 2016

Yesterday, the price of silver fell to last Thursday’s opening levels, when a new local low since the end of October 2015 was reached. Prices of commodity assets are falling as risk appetite is gradually returning to the market...


XAG/USD: silver slowed growth on February 11, 2016

Yesterday the pair showed choppy trade and closed at its opening level. The price was pressured by growth in the European stock markets and Fed Chair Janet Yellen testimony before the US Congress...

Analytical review of American Express Company

The Company ranks 23th on capitalization in the finance sector among the Issuers, trading in the American stock market. On 22 January the company reported for Q4 of the fiscal year of 2015. The company has been demonstrating negative dynamics for the last few quarters...

Brent: decline has resumed on February 05, 2016

Since the opening of the trading day the price of crude oil Brent is declining. On the hourly chart the price has broken down the first support level of 34.35 (ÅÌÀ50), which is ÅÌÀ200 on the four-hour chart...


XAU/USD: Gold is overbought on February 04, 2016

The price of gold has returned to the level of 1190.00 USD per troy ounce, (which is had at the beginning of November), regaining half of the losses since mid-October 2015. On the daily chart the price has broken down strong resistance levels 1129.00 (ÅÌÀ200)...

EUROSTOXX50 : Volatility in the financial markets continues

Amid sharp decline in the global stock indices since the beginning of the year European index EUROSTOXX50 has lost about 14%. During the final surge of decline from 3515.0 to 2840.0 last December, the price has managed to go above the level of 23.6% Fibonacci...

Brent: Oil prices can renew the plunge

On the daily chart the price has broken down the upper line of the downward channel at the level of 35.50. Although, on the daily chart the indicators OsMA and Stochastic recommend long positions; on the four-hour chart the indicators give signals in favor of the sell positions...

  


Share: