A down-day for NQ on Friday, the selloff started right from the opening bell and continued all day into the close.
With such a negative momentum going into the close, unless NQ can stay above 4500 support I am looking for another sell-off day.with the downside target on the daily chart at 4400.
However, with the 60-minute timeframe currently in deep oversold territory there is a possibility NQ could have a large bounce with key resistance at 4550 area.
If NQ can break and then stay above 4550, a rally to next resistance 4610-4615 is very likely. Failure to do so should lead to another strong selling.
Forensic Analysis of Fed Action on Silver Price
2 years ago
