Monday, November 5, 2018

NQ Guideline For Tuesday

Ahead of the midterm election on Tuesday, as expected NQ traded sideways on Monday, with the open inside prior day range, then dropping below prior day low then rallying back into Friday range, closing inside the range.
 
It is likely to again trade sideways on Tuesday, and then make a trending move on Wednesday after the election result is known.
 
Key price level to watch for will be 6985 resistance, 6810 support.
-- Opening outside the 6810-6985 range could cause a trending move away from the range.
-- Opening inside the 6810-6985 range however, could cause a breakout that get reverse back into the range, just like Monday price pattern 
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