NQ sell-off that started on Friday continued into Monday morning, with NQ dropping lower that Friday swing low before it found support and rallied.
NQ trade sideways in the afternoon, setting up another trending upswing on Tuesday. To do so NQ has to trade above key resistance at 11,150 and trigger short-covering.
Failure to trade above 11,150 is bearish, and may simply continue to trade sideways unless NQ trades below 11,040 key support price level.
A sustained break below 11,040 has the potential to trigger heavy selling and tank NQ lower.
Key resistance is 11,050, breakout above it.
Key support is 11,040, breakdown below it
