The stock market was down on Thursday as the Trump administration triggered trade war adding to the Italian debt crisis.The stage is set for a global financial and economic meltdown.
Key price level for NQ on Friday remains at 6960, and at the close on Thursday 6960 was acting as support. As long as NQ remains above 6960 selling should remains under control.
However, should NQ breaks below 6960, the selloff could quickly take NQ down to the next lower support level 6860.
Trump trade was is very destructive to global economy but with the US administration under the control of the ultra nationalist, trade war should intensify going forward.
