The QQQs are back at the downsloping 50 day moving average, a key level of interest.
Its the first big level that needs to be captured for the bulls to stand a chance at turning the tide on the downtrend.
Possible scenarios:
1) We reject from here and continue to downtrend
2) We consolidate or flag before an attempt to breakout
3) We slowly squeeze higher (meltup) , expand the range or possibly fail like in March
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
Its the first big level that needs to be captured for the bulls to stand a chance at turning the tide on the downtrend.
Possible scenarios:
1) We reject from here and continue to downtrend
2) We consolidate or flag before an attempt to breakout
3) We slowly squeeze higher (meltup) , expand the range or possibly fail like in March
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
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.
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.