In the early American session, the Nasdaq market composite index, #NDX, is trading below the EMA of 200 on the 1-hour chart, within a slightly bearish channel. At this time of writing, it has a slight increase of 0.14%.
Investors are still watching the quarterly earnings season and the next few days will be intense, with publications from industrial companies like Boeing and tech companies like Apple, Microsoft, Amazon and Alphabet.
Those corporate results are generally good, but analysts say high market valuations have calmed spirits and high expectations lead them to punish any disappointing details.
The yield on the 10-year Treasury bond is rising to 1.56%, which is giving strength to the US dollar, and this could push down the Nasdaq Index.
On the chart, we can see that the Nasdaq 100, #NDX, is trading below the downtrend channel. It is likely that there will be a pullback towards the top of the downtrend channel that will be a good selling opportunity.
On the other hand, a consolidation below the 200 EMA and 21 SMA both are located in the 13906 zone, the bearish pressure could accelerate and fall to the 13640 support zone.
The eagle indicator is showing bearish signal any movement to resistance levels (13975) will be a good opportunity to sell.
Support And Resistance Levels For April 26 – 27, 2021
Resistance (1) 13,983
Resistance (2) 14,015
Resistance (3) 14,075
Support (1) 13,875
Support (2) 13,772
Support (3) 13,633
The material has been provided by InstaForex Company – www.instaforex.com
🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.
As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.