NASDAQ stock index continue to move in the downward channel. At the time of publication of the forecast, the index is trading at 7245. At this point, an attempt should be expected to grow and test the resistance level near the area of 7345. Where should we expect a rebound and the continuation of the fall in NASDAQ quotes to the area below the level of 7040.
NASDAQ Forecast and Analysis May 31, 2019
In favor of falling stock index quotes, a test of the downward trend line on the relative strength index (RSI) will be made. The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the option to reduce the quotations of the index will be a strong growth and a breakdown of the 7505 area. This will indicate a breakdown of the resistance level and continued growth of the NASDAQ with a target above 7765. Expect the acceleration of the fall in quotations of the stock index stands with the breakdown of the support area and closing below 7155.
NASDAQ Forecast and Analysis May 31, 2019 suggests an attempt to test the resistance level near the 7345 area. Then, continue falling to the area below the level of 7040. The test of the resistance line on the relative strength index (RSI) will be in favor of reducing the NASDAQ quotes. The cancellation of the reduction option will be a strong growth and a breakdown of the 7505 area. This will indicate continued growth with a target above the 7765 area.
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