Thursday, March 20, 2014

Guideline For Friday

Both NQ and ES broke above first resistance price level on Thursday, and, after a successful test- proceeded to rally up to the next resistance, and then closed near the upper trading range, 3680 - 3700 for NQ and  1856 - 1866 for ES.

For Friday NQ trading range will be 3680 - 2700, and 1856 - 1866 for ES. A clear and sustained break out of the range implies a movement to the next resistance or support.
-- For NQ, the upper range is 3700, a clear break above 3700 resistance target a move up to 3720. For ES, the upper range resistance is 1866, a clear break target 1875.
-- A break below lower range support target the next lower support, 3650 for NQ and 1846 for ES.