Sunday, August 5, 2018

NQ Guideline For Monday

NQ traded sideways in a narrow trading range on Friday, consolidating the huge gain from massive Thursday rally.
 
Unless the shorts panic and cover, there is not many buyers at this level, thus NQ may continue to either trade sideways or pull back down to support  before rallying up again.
 
Supports on a pullback down are 7350 and 7320.
 
NQ needs a sustained break above 7400 resistance to force the shorts to cover. If so, resistances are 7450 and then 7490.