The NQ daily time frame is in sideways movement. Resistance at price point 12169.00 and support at price point 10926.25.
The market is at the top of resistance and is showing signs of a indecision candlestick. If resistance holds the market should push bearish towards support limit 11030.25 about +4,527 ticks away. As long as the market stays below resistance price point 12169.00 I am going to turn to the one hour time frame and will look for the market to enter into the sell zone.
If the market breaks above 12169.00 the daily resistance. I will expect a bullish trend to form.
I agree with you Josh, and will now wait until to see what direction this takes after today. Thank you again for your help and direction. Do you think the Gold is still going upward? Do you feel that Russel will follow the same direction as the NQ?
JoshuaMartinez
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@Analyzer2020, Thank you for the kind words. As of now, Gold is holding at support. I am expecting Gold to continue to range off the daily time frame until a break out. With that said, as long as support holds off the daily time frame I am expecting a bullish breakout. For NQ, ES, and RTY. I am still waiting for confirmation of direction for the monthly time frame. I believe this president issue is causing people to stay out of the market so we are seeing the the market pretty much run sideways. I believe after the president issue is resolved, we will have a better evidence of the push. Great questions and hope this helps!