QQQ Analysis 1 Day Chart
QQQ overall has been in a bullish channel for ages. For trends to have continuous strength one of two things must occur:
1. Areas of Consolidation
2. Areas of Retracement
I Currently see QQQ undergoing a level of retracement. It was at the .382 Fibonacci level at the time of me making this. But I could easily see price touch 0.5 levels before I expect a bounce off.
Sentiment: Neutral
Reasons
1. Ascending Channel
2. Prominent Selling Volume
If you like my analysis a follow would be much appreciated 👍🏼
Like/Comment. Let me know what you think.
1. Areas of Consolidation
2. Areas of Retracement
I Currently see QQQ undergoing a level of retracement. It was at the .382 Fibonacci level at the time of me making this. But I could easily see price touch 0.5 levels before I expect a bounce off.
Sentiment: Neutral
Reasons
1. Ascending Channel
2. Prominent Selling Volume
If you like my analysis a follow would be much appreciated 👍🏼
Like/Comment. Let me know what you think.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.