Monday, June 13, 2011

Trade Guideline for Tuesday (NQ)

Key inflection point is 2222. Key resistance is 2230, and key support is 2215 (September Contract)

  1. Inside key support and resistance, it is likely going to be a narrow-range consolidation day. 
  2. If price can get a sustained break above key resistance level, the likely possibility will be a profit-taking / short-covering rally, targeting 2240 - 2245 zone, then 2250
  3. A sustained break below key support level (2215) will result in another bearish liquidation day, targeting a decline down to 2185 area..