MNQ1! As we begin to get below both of these April low trendlines with daily bearish divergences present, it is not unlikely to see a larger retracement to the daily 50 SMA. The 200 SMA is not impossible, but I suspect the 50 would see buying pressure for a first touch. Whatever pullback we get would be expected to be the 4th wave down before the final 5th wave up in this current 5 wave impulse.
MNQ1! Current scenario : Long break liquidity above to continue strong end of day green candle TGT minimum fib extension from recent pullback 50EMA Bounce
Fail this = lower / deeper pullback to session range 50% min.