The QQQ has been respecting the 50 EMA since 2023 and has been forming and upward parallel channel, but now the QQQ is testing hard the 50 EMA, the price is hovering right below the 50 EMA; however, price still closed inside the hypothetical upward parallel channel and in a flip zone with wick candles. Keep your eyes on price action and the channel and the flip zone and the key level below it. If we get a bullish candle moving upward inside the channel that is a good sign that we may have a price reversal. 483.34 the 50 EMA may be the deal or the deal breaker. Please be careful and remember outside the channel the bears roam.
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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.