Thursday was a very narrow-range sideways consolidation type of day for NQ. It was stuck between bullish mode on the daily chart, bearish mode on the 60-minute chart, and bullish mode on the intraday 5-minute chart.
Thus, key price level for NQ on Friday will be 6670 support and 6710 resistance.
-- A break above 6710 could potentially trigger a short-covering rally, with the next upside target at 6800.
-- Trading below 6670 is likely to trigger fast liquidation with potential support at 6570
-- With Friday tendency toward a choppy type of day, also be on a lookout for breakout reversal, as NQ may break out of the 6670-6710 trading range and then reverse sharply.
