NQ retested 5783 resistance again on Tuesday and failed to break through it. NQ then traded down in a choppy price action towards 5720-5730 support zone.
Although the low of the day on Tuesday remained above support, NQ has now traded down to support in afterhours trading, setting up a possible break below 5720. If so, selling should quickly tank NQ down to retest the recent low 5643.
Key price level for NQ on Wednesday will be 5720.
-- If NQ opened below 5720 on Wednesday it is likely to trigger a cascade of selling that could quickly tank NQ down towards 5643 support. It would need a very bearish market condition for NQ to break below 5643 support.
-- If NQ remains above 5720 by the opening below Wednesday it could lead to a sideways action, resistance is again 5783
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