Sunday, April 21, 2019

NQ Guideline For Monday

The stock market was closed on Friday last week because of Good Friday, as such Thursday was the last trading day last week, and the price action was choppy and narrow range.
 
Going forward, key price level to watch for is October 2018 swing high of around 7750 for NQ based on NQ June contract.
-- Trading below 7750 is going to keep NQ in a choppy narrow trading range unless NQ breaks below its 20-dma on the daily chart, and for Monday that price level is round 7540, which is a long way down from current price level.
 
On the short term time frame, key intraday price level on the NQ is around 7695
-- Bullish bias above, bearish bias below.