A very narrow range day for NQ on Tuesday, stuck between resistance 25,390 and support 24,000.. As long as NQ remains below 25,390 we could see more narrow range day or a sharp drop back down to 24,000 support.
Key intraday inflection price level remains at 25,275, bullish above, bearish below.
What was more exciting on Tuesday wa the takedown of gold and silver, vulnerable to sharp selloff because it was way overbought.
How long and how large the current pullback will be is difficult to say.
Gold 20-ma support on the daily chart is at around 4,000, which provided support on Tuesday overnight globex trading session.
4,000 is now key support for gold.
