A narrow trading range for NQ on Monday. The range continued to narrow, setting up a big move. The timing is difficult to forecast, but the key is a breakout of the current narrow range, 18,250-18,400
Key range breakout price levels are 18,400 to the upside and 18,250 to the downside.
A sustained break out of the range is going to trigger breakout trades, leading to trend day, with upside target on a break above 18,400 to 18,600. The downside target for a downside break below 18,250 is 18,000.
18,000 is a strong support. However, a break below 18,000 target 17,400. a 600 point drop which could easily happens in one trading day.
