NQ came back down to retest key support at 15,790 area soon after the open on Tuesday. When support held, buyers jumped in to buy. Although sellers came back in to sell NQ managed to close above key intraday inflection price level at 15,880 for Wednesday.
With NQ now closing above key support, 15,790 but below key resistance at 15,970, where it trades on Wednesday is key tp gauge directional move.
Should NQ opens above 15,970 we could see NQ rallying to the next resistance zone between 16,100 to 16,250.
NQ would need to trade below 15,970 to be bearish. Anting in between implies more sideways action.
