$QQQ #QQQ Symmetrical Wedge Squeeze
Invesco QQQ Trust, has been ranging in between this symmetrical triangle pattern. It looks ready for a breakout move to the top side although it is good to watch both sides for the move.
Scenario 1: If we breakout the resistance side (Which we've had trouble all day today (opex volatility)) we may see the target $498.43 resistance hit sometime next week.
Scenario 2: If we break below the support side we have 2 gap fills that need filling. Main target for this is the $490.56 gap fill and daily support.
I am leaning more towards the bullish side breakout for this trade as I anticipate an increase in volume going into next weeks markets.
Scenario 1: If we breakout the resistance side (Which we've had trouble all day today (opex volatility)) we may see the target $498.43 resistance hit sometime next week.
Scenario 2: If we break below the support side we have 2 gap fills that need filling. Main target for this is the $490.56 gap fill and daily support.
I am leaning more towards the bullish side breakout for this trade as I anticipate an increase in volume going into next weeks markets.
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