Monday, July 29, 2024

NQ Guideline For Monday

NQ traded sideways on Friday after bouncing from a very strong technical support on Thursday, likely to bounce for two to three days to retest the 20/50 days moving average on the daily chart.

Overnight NQ has traded above Friday swing high, nn indication we could see a large up-trending day on Monday, ahead pf the FOMC decision on Wednesday where the Fed is expecting to cut short-term interest rates.

If  we get a strong market rally. NQ upside targets is in the range of 19,450 to 19,650-19,700 area.

Key intraday inflection price level is at 19,200, bullish above, bearish below it.