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NASDAQ Predicted to Remain Between 4550 and 4600

NASDAQ Predicted to Remain Between 4550 and 4600

Last week was a fairly volatile week for the NASDAQ, having begun the week at 4,596.54 it dropped on Wednesday to 4,549.19.60 before rising and falling over the next couple of days and finally closing on Friday at 4,567.60.

The index has recently been taken to its highest level in some years due to the strength of technology companies. However, it has not managed to break through the 4,600 level despite coming extremely close. Should it manage this then there is a good chance that the index will keep rising.

However, it seems that the NASDAQ is set to continue bouncing between the 4550 level and the 4600 level with a slightly negative trend. It is likely that support will be found at the 4500 level and it is very unlikely that the index will dip below it.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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