On Monday NQ traded in a very narrow range below double-top resistance, a bullish set-up before breaking out above double-top 13,765-13,880 resistance zone.
Consolidation can continue for several more days before breaking. As long as pullback remains shallow, the breakout will be very powerful as shorts cover their short and may reverse long.
Support going into Tuesday will be at 13,740 and resistance at 13,880. A clear break above 13,880 implies a potential powerful breakout. Trading below 13,740 implies a deeper pullback before attempting to break resistance.
