QQQ - Is it going to Rise?
-Oh boy, this month was something else! So much uncertainty in the market. Whether to expect a 5-6% drop or 10% drop was the most discussed topic in the trading community.
-Now, looks like people are happy with the current drop and are willing to drive the price back up. But should we all really hop into this rise or wait?
-In our opinion for such a drop, the current support is not so strong to hold it all together. The actual strong support can be seen at around $342.
-If the QQQ wants to continue the current rise, it needs to pass the $366 resistance level and more importantly never drop below $350.
-Will QQQ follow these rules? No one knows ofcourse. Let's all wait and see!
-Now, looks like people are happy with the current drop and are willing to drive the price back up. But should we all really hop into this rise or wait?
-In our opinion for such a drop, the current support is not so strong to hold it all together. The actual strong support can be seen at around $342.
-If the QQQ wants to continue the current rise, it needs to pass the $366 resistance level and more importantly never drop below $350.
-Will QQQ follow these rules? No one knows ofcourse. Let's all wait and see!
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