NQ - has held support and now may give us another thrust higher

I know the pullback last week was a sweet long expected treat for bears. I know there are handful of arguments in favor of breakdown. But so far the support has held.

Moreover, structure wise I can argue it needs another move up to a higher high. As long as it stays inside that contracting rising wedge it may grind higher at least to 7,170 but may extend to 7,300. To turn me bearish bears should drive the price under the declining dashed red trend line.

NQ - 120 min chart updated on 9 February 2019

Login