Tuesday, July 11, 2017

NQ Guideline For Wednesday

NQ traded sideways between 5720 resistance and 5680 support all day on Tuesday and should continue to be key price levels for NQ again on Wednesday.
 
5700 - 5720 price zone is a strong resistance on the daily chart, and a key price zone where many algorithm will turns into buyers above but will remains as sellers below, thus a clear break will turn most algorithm into buyers. If so, the next resistance before strong selling is expected to come in is 5735 and then 5780.
 
But failure to clearly break above 5720 is going to attract selling with first support at 5670-5680 price zone, then a clear break implies a potential retest of recent low.