Nasdaq price closes the price gap
Yesterday, the index price formed a large upward momentum to succeed in closing the price gap by touching the 21480.00 level and then trying to form some negative waves by currently infiltrating towards 21360.00.
We note that the attempt of the Stochastic indicator to provide negative momentum and by trying to form the 21640.00 level for the additional barrier, these factors prompt us to stick to the negative preference so that the price targets the 21175.00 level and then to repeat the pressure on the stable support at 21020.00.
Expected trading range for today is between 21175.00 and 21560.00
Today’s price forecast: Low
Dow Jones Index price repeats pressure on the barrier
The index price formed a strong upward rebound after approaching the 61.8% Fibonacci correction level centered at 43840, compensating for many losses, to note its renewed attack on the stable barrier at 44710 and then to rebound downward towards 44480, confirming its surrender again to the previously suggested negative pressures.
Also, the current exit of the Stochastic indicator from the overbought level will in turn increase the negative pressures, forcing the price to incur additional losses by sneaking towards 44350 and 44180, while the rush of trading above the previously mentioned barrier will cancel the negative probability, forming the 44930 level as the first target for bullish trading.
Expected trading range is between 44180 and 44650
Today’s price forecast: Low
