On Thursday, the trend on the daily chart time frame remains down below 12,050. As such rallies is to be sold at resistances.
The next downside target for NQ is at 11,700-11,800, strong support on the daily chart from prior swing highs and 50-day moving average support combined with slight oversold condition on the daily chart.
On the 5-minute intraday chart, key inflection price level for NQ on Thursday will be at 11,980, bullish above with resistance at 12,050, and bearish below it with the next support at 11,700-11,800
