A sideways consolidation pattern for NQ on Thursday following a large down-trending day on Wednesday. With Friday's tendency to trade sideways we could see NQ trading sideways again on Friday, then trend again on Monday.
Key price level for NQ on Friday will be at 20,000 support.
A sustained break below 20,000 could start to trigger liquidation decline. If so we could see NQ dropping down to the next support level, a double-bottom support with March 11th and 13th swing low.
Both on the 60-minute chart and the daily chart NQ looks ready to tank. However, it may have to wait until Monday next week.
