On Wednesday NQ opened below inflection price level and then dropped down to key support 11,700, but was not able to break below it.
A bounce from support was so weak that it failed to break back above inflection price which then was acting as resistance. As such, NQ just trade sideways in a very unusually narrow price range.
On Thursday key price level will be at 11,700 as support and 11, 850 as resistance. A break out of the range is likely to cause a sharp large movement away from it.
Supports below 11,700 is 11,500 and 11,400.
Resistances above 11,850 is at 11,950 and then at 12,050.
