Monday, August 12, 2019

NQ Guideline For Tuesday

NQ daily trend = down
NQ 60-minute trend = Down
NQ 5-minute trend = down
 
Monday was the second down day, as such we could see NQ try to rally but key resistance will be at 7650. Failure to break above 7650 could bring back more selling.
 
For selling to continue lower, NQ would need to break below 7550 support, a strong support, prior swing high resistance now support. On a clear break below 7550 the next lower support is the 200-dma on the daily chart, now at 7275.