On Wednesday NQ opened with a gap-down to support, then after closing the opening gap simply trade sideways below prior day low-turned resistance.
With the daily chart still above its 20-day moving average NQ may want to rally on Thursday. However, to do so, it has to break back above 7280 now resistance.
Key price level for NQ on Thursday will be 7280, now acting as resistance.
-- Trading above 7280 implies NQ may want to rally to test the June swing high.
-- Failure to break-back above 7280 implies consolidation if it can stay above 7240 or sell-off if NQ breaks below 7240 key support price level.
