A choppy up-trending day for NQ on Friday as it nears a double-top with April swing high which is at about 2786 area.
As price approaches that key double-top level, the question we need to ask ourselves is what happen as NQ trades near that DT.
1. Will it breaks and rocket higher?
2. Will it falsebreak to higher-high and then collapse? or
3. Will it pullback before the break?
In reality, no one could know for sure, hence it is best for us to monitor price action daily, on an intra-day basis.
For Monday, key level to watch is 2773 area.
-- Bullish bias above target up is 2786 area. A sustained break could cause a massive short-covering rally.
-- Bearish below, implies consolidation, with first target down to 2765, then 2743.
Pivot Numbers:
R1 = 2783.25
FT Pivot = 2773.25
S1 = 2766
Market Profile Numbers:
Upper VA = 2777
POC = 2775
Lower VA = 2770
Here is an NQ daily chart showing potential future price path, a reference guide.
