Thursday, July 26, 2012

Trade Guideline For Friday

NQ opened gap-up and pushed upward into 2595 resistance, then decline down to 2560 support. It is now back inside prior trading range 2550 - 2595. Breaking out of the range implies trending move in the direction of the break.

Breaking above 2595 target 2630- 2660. Resistance levels are 2620, 2630, 2550, 2560
Breaking below 2650 target 2530 -  2500. Supports are 2540, 2520, 2500.

Upper VA = 2586
POC = 2578
LVA = 2570