NQ opened with a gap-down into oversold territory on the 5-minute chart on Monday then rallied to close the gap, and then broke above the gap-close to continue the rally, closing at the high of the day in overbought territory on the 5-min chart. NQ may need to pullback down to support before rallying again.
On the short term intraday timeframe key inflection price level for NQ on Tuesday will be 7725.
-- If NQ remains above 7725 by the opening bell we should see another rally to higher high above Monday high, but strong resistance from daily chart double-top with October 2018 high is around 7750 on the June contract. NQ would need a sustained break above 7750 to trigger short-covering rally.
-- If NQ should break back below 7725 we could see a further decline down to 7700. A break below 7700 implies a deeper pullback down to 7670 area.
7670 is a critical support, and a strong support level, and should it get clearly violated we could see heavy selling
