Tuesday, February 2, 2016

NQ Guideline For Wednesday

An overnight selloff in crude oil dragged the equity market down with it. NQ opened with a gap-down below key support on Tuesday, then trend down all day broken below another crucial support 4200.

For Wednesday, a failure to trade back above 4200 is likely to trigger another round of liquidation selling, the next support is 4100.

Selling pressure should be subdued if NQ can trade back above 4200.

Key driver for the equity market would remains the price of crude oil