After breaking out above prior swing high, June swing high, on Wednesday, NQ consolidated for a second day in a row on Thursday, twice retesting 5900 key support price level twice.
As long as NQ remains above 5900, it is in breakout mode, and it is either going to continue consolidating above 5900 or rocket higher as short sellers cover their short and reverses long.
Going forward, key support for NQ is 5900.
-- Above 5900 NQ is in breakout mode, and could rocket at anytime, so Friday it is either going to continue to consolidate, or rally to another new high. NQ is bullish above 5900.
-- If NQ should trade back below 5900 in a sustained manner, it is likely to trigger selling, first downside target and support is 5850.
