On Tuesday NQ broke above its key 50-day moving average on the daily chart, triggering massive rally as shorts were forced to cover. Wednesday was a consolidation day following a massive up day on Tuesday.
NQ is now trading above its 20-dma and its 50-dma now acting as support thus selling should be under control. Any pullback down support is going to be bought as long as it does not violates its 20-dma and 50-dma now solid support zone .
Intraday support for NQ on Thursday will be 6800. As long as NQ does not clearly violate 6800 the rally should continue
Forensic Analysis of Fed Action on Silver Price
2 years ago
