Thursday, March 15, 2012

Trade Guideline for Friday (NQ)

NQ consolidated within a narrow trading range on Thursday as it was not able to blast above resistance. For Friday key resistance for NQ has move slightly up to 2715.
  • A clear and sustained break above 2715 has the potential to trigger a short-coevring rally targeting 2740-2750 area.
  • Below 2715 implies it is still in a pullback/consolidation mode, a decline targeting 2700 support. A clear and sustained break below 2700 may cause a quick liquidation decline down to 2675-2685 are.