Momentum building up
QES has bucked eight straight months of market pullback, however, the share has rebounded upon touching Fibonacci level 61.8 coincides with reversal inverted head and shoulder pattern somewhere in March. The share subsequently has broken above resistance turns support level at 0.545 with bullish bias emerged by the formation of bullish symmetrical triangle pattern. The price has rose above the triangle pattern, as such, could test resistance level at 0.68. A significant price movement above the downtrend line could push the price higher. Support level is seen at 0.545.
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Disclaimer: No trading strategy provided here. Our content is intended to be used and must be used for technical analysis education purposes only
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