On Tuesday NQ opened with a gap-up above resistance triggering short-covering rally in the morning but sellers came back in the afternoon overwhelming buyers, sending NQ back down to broken resistance now support.
For Wednesday 7395-7400 zone becomes key support.
-- Breaking back below 7395 is likely to trigger selling algos. If so, strong support is at 7300.
-- If NQ can stay above 7400 on Wednesday it is likely to trigger another round of buying activities. If so the upside target is a break above Tuesday swing high.
Forensic Analysis of Fed Action on Silver Price
2 years ago
