A very narrow range choppy price pattern for NQ on Friday. It could be setting out for a small breakout to the upside on Monday. However, it may not be a trending day.
If NQ does break to the upside that starts to run over trailing stop-losses, is likely to trigger a rally that is followed by reversal maybe in the afternoon after all the shorts have covered.
Having said that, we should always watch out for a possible trending up day if NQ can break above the recent swing high of about 16,160 and then stay above it., there is always some chance that a breakout could trigger trending up day.
Key support for NQ on Monday will be at 15,060, key resistance at 15,160. A sustained breakout of the range could trigger trending move out, with possibility of a false-breakout.
