QQQ: A PULLBACK IS POSSIBLE
Looking at the 1 hour chart we can see some small bearish divergence developing on our trusty TDI indicator, suggesting a small pullback is likely
Here, I've highlighted several key support zones to watch for in the next few trading days - week
- 378: could fill the gap to the downside to retest our 50 hour moving average (Yellow circle)
- 370: a key fibonacci retracement level
- 365: the upper bound of our 4 month bull flag
There is no need to flip bearish mid term if the MAs hold up, should retest these levels first before moving to all time highs
Here, I've highlighted several key support zones to watch for in the next few trading days - week
- 378: could fill the gap to the downside to retest our 50 hour moving average (Yellow circle)
- 370: a key fibonacci retracement level
- 365: the upper bound of our 4 month bull flag
There is no need to flip bearish mid term if the MAs hold up, should retest these levels first before moving to all time highs
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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.
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.