NASDAQ gets closer to its 200 hour moving average

Technical Analysis

The last 2 tests of the moving average stalled the fall

The NASDAQ index moved to a low of 9170.47. That got closer to the 200 hour moving average at 9153.594 (and moving higher).  The importance is that the last 2 tests of the 200 hour moving average has found support buyers against the level (see green line in the chart below).   If the moving averages tested today will it find buyers for the 3rd time?  Do buyers want to move in before the weekend with the coronavirus fears increasing?

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