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Home ANALYSIS

NASDAQ index tumbles below the 200 hour MA.

A.R Chowdhury by A.R Chowdhury
September 4, 2020
Reading Time: 1 min read
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NASDAQ index tumbles below the 200 hour MA.

Can it stay below the key MA level.

The NASDAQ index has tumbled below its 200 hour moving average currently at 11168.93. The low price has reached 11107.918.  

Can it stay below the key MA level.

The last time the price traded below its 200 hour moving average was back on July 24 and before that June 29. Each of those breaks on the hourly chart were quickly reversed with in the hour. There has not been a close below its 200 hour moving average since April 6. That is a long time ago.

Stay below the level now keeps the bears firmly in control.  Key test from a technical perspective for the high flying NASDAQ index.

For bank trade ideas, check out eFX Plus

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A.R Chowdhury

A.R Chowdhury

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