$IXIC $NQ1! $QQQ Nasdaq Challenging Key Monthly Resistance
In a similar fashion to its 
DJI brethren, the 
IXIC is trying to break out of its "Channel" formation in an effort to move higher.
Given this move, theIXIC is trying to make a run for 7,879 - a Key Monthly Resistance Level (Blue) for the index.
One thing to lend support for theIXIC to move higher, is the fact that its RSI is showing positive divergence with current price action. Nonetheless, for the IXIC to continue pressing forward, if the RSI can break above its red downward trend line, it would further strengthen the IXIC upward trend.
If theIXIC can successfully "Breach and Close" above 7,879, it would be a good sign for the market.
DJI brethren, the IXIC is trying to break out of its "Channel" formation in an effort to move higher. Given this move, the
IXIC is trying to make a run for 7,879 - a Key Monthly Resistance Level (Blue) for the index. One thing to lend support for the
IXIC to move higher, is the fact that its RSI is showing positive divergence with current price action. Nonetheless, for the IXIC to continue pressing forward, if the RSI can break above its red downward trend line, it would further strengthen the IXIC upward trend.If the
IXIC can successfully "Breach and Close" above 7,879, it would be a good sign for the market. 
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Related publications
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.