Another sideways choppy day for NQ on Friday, the third pullback day in a row.
If the current NQ uptrend on the daily chart is still in progress we should see a rally day for NQ on Monday. To do so NQ should stay above 4700 key inflection price level for Monday and push higher to above 4730 swing high.
However, staying below 4700 is an indication NQ daily uptrend may have ended. If so, look for NQ to trend down on Monday, and break below Friday low. Key support is 4670 and a clear break below 4670 could trigger strong selling algos.
Against the backdrop of strong October employment reports and the Fed being forced to raise interest rates in their December meeting or lose all credibility, and when the ECB and the BOJ are going into money-printing binge, look for the USD to rally and gold to decline going forward, at least until December FOMC meeting.
Gold Price chart
