Monday, April 4, 2022

NQ Guideline For Tuesday

After a 3-day pullback down move, NQ resumed its rally on Monday. The day high on Monday is back to  just below key resistance zone, the 200-day moving average on the daily chart.

A break will likely forced the shorts to cover, and that can cause the NQ to rocket to its next resistance zone, 15,500-15,700 for NQ.

Failure to break above resistance on Tuesday could cause a sideways action. NQ would need to break below the pullback low, below 14,722 swing low to start to run over trailing stoploss for those who has bought the pullback.

Key intra-day support for NQ on Tuesday will be at 15,065, next lower support is 14,960