Monday, August 6, 2018

NQ Guideline For Tuesday

NQ broke above 7400 key resistance on Monday, then after a successful test of the breakout,  it then triggered short-covering thus triggering rally all day long.
NQ then broke above 7440 resistance and close above 7440 resistance at the end of the day, 7440 is now support going into Tuesday trading session.
 
Thus key support for NQ on Tuesday will be 7440.
-- Trading above 7440 should keep the short-covering rally going without a pullback. If so the next resistance is 7490.
-- Trading below 7440 should trigger some profit-taking pullback. If so, first support is at 7400