Despite the pullback, buyers are still in play and arguably maintain a technical advantage after last Thursday’s move above the 200-hour moving average, currently at 16,957.54. That was the first break above the 200-hour MA since February 21, when the index fell below it at 19,641.07 — a move that ultimately led to a near 25% decline. Holding above the 200-hour MA remains an important line in the sand for buyers. A move below would shift the buyers back in favor of the sellers.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
Finally We wish PressBee provided you with enough information of ( Nasdaq trades to new lows. Sellers making a play after failing to reach the next target. )
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