Another sideways consolidation day on Monday, staying inside a narrow trading range between 3710 to 3740 for the 4th day in a row, an indication short-covering may have been exhausted for now, hence a possible setup for a big multiday pullback down. On the other hand, as long as key support is not clearly violated the next leg up should resume.
Key support level moving forward is 3700.
-- As long as 3700 is not clearly violated NQ should continue to either trade sideways or resume its uptrend.
-- Breakign bel;ow 3700 is an indication of a possible multi-day pullback down
Gold continues to sell-off, and should continue for a while longer.
