Nasdaq technicals
The NASDAQ index is trading to new site session highs as Pres. Trump completes his speech in Saudi Arabia. Toward the end of his speech he did say that he will order the cessation of sanctions against Syria.
The NASDAQ index is now up 316 points or 1.69% at 19024.53. The high price came in at 19024.99.
Yesterday recall, the price extended above its 100-day moving average currently at 18466.65. That was the first break – and close – above that moving average since February 24. The price also moved above a swing low from January 13 at 18831.91. Both of those levels will now be close support. Staying above is more bullish.
The buyers are taking back more control. The next target comes against the high price from February 27 at 19286.02. Above that and were in the upper extreme which peaked at 20204.58 on December 16. That was the all-time high for the index.
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