7400 support continue to hold for the third day in a row, and NQ rallied into the close, with the close just above key inflection price zone for Monday 7510
Key trading range for NQ is 7400-7660.
-- NQ has broken above key resistance in overnight trading on Sunday night. As long as NQ remains above 7660 at the open and soon after the open we have an upside breakout with first resistance at 7800.
-- The final upside target for this upside breakout is the 200-dma on the daily chart, 8225. However, 7850 is a very strong resistance zone. NQ has to clearly break above 7850 to get to the final upside target 8225 area.
-- Should NQ fail to stay above 7660, the downtrend has resumes and it will break below 7400.
For now, as long as N remains above 7660, the 8225 upside target is still in play.
