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Wednesday, 15 June 2016

NASDAQ: Wait and See

At present bouncing off the short-term Support Line, we can't be sure whether it will rise or fall.

The green box is the range (pointing upwards) within which the price is moving; but the red line is a long-term Resistance Curve.

The price may rise as far as the Resistance Curve, but no further, given the threat of an eventual rise in FED interest rate this year.

If the price turns downwards tomorrow and breaks through the short-term Resistance Line, it should drop rapidly towards the 5-year Support Line.

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