A narrow-range sideways consolidation type of trading action for NQ on Thursday. After opening with a gap-down it then rallied back up to test resistance before trending back down again, and closing at the low of the day, setting up a bearish day on Friday.
On the short-term 5-minute timeframe, NQ closed in oversold territory, and thus could pullback up before running back down, if pullback up move does not violate resistance.
If NQ is not able to break back above resistance, now at 5990 for NQ, then selling could resume, next downside support is 5940.
