NQ Technical chart

NQ Analysis

Examining the overall 4-hour trend, we observe a pattern in the downward and upward price movements:

Downward Move (AB): From 22,428.75 to 21,016.75.
Retracement (BC): The upward retracement of BC was exactly 78.6% of the total downward move (AB). Price action moved up to this level before rejecting.

Similarly:
After rejecting at 22,118.75, the price dropped to retest at 20,983.75.
This resulted in another upward retracement (DE) to 21,872.75, which again represented 78.6% of the previous downward move (CD).
On Friday, the lowest tick on NQ was recorded at 20,874.75.

If we apply Fibonacci to the most recent downward move:

The 78.6% retracement level is at 21,674.00, marking a potential area of interest above.
Below, the open areas of interest are:
78.6% retracement at 20,803.50
88.6% retracement at 20,605.75
This highlights key zones for potential price action and reaction points moving forward.


Monday NQ Price Action Prediction Key Levels to Watch:

Support:
20,803.50 (78.6% retracement): Critical support zone.
20,605.75 (88.6% retracement): Deeper support if the lower level is breached.

Resistance:
21,674.00 (78.6% upward retracement): Key resistance zone.
21,872.75: Previous swing high and secondary resistance.
Predicted Scenarios:

Bullish:
A bounce from 20,803.50 could lead to a rally toward 21,674.00.
Breaking above 21,674.00 may push prices to 21,872.75.

Bearish:
Breaking below 20,803.50 could trigger a drop to 20,605.75.
Rejection at 21,674.00 may signal continued downside toward support levels.