QQQ: In a critical RESISTANCE area! What's next?
• QQQ is in a resistance area around $284, which did work as a resistance twice since October;
• Now, if it confirms a top sign around this area (any bearish candlestick pattern would work, like a Shooting Star, Bearish Engulfing, DCC, etc), it’ll confirm a Triple Top chart pattern, and QQQ would do a sharp correction from here;
• However, if QQQ breaks the resistance, it’ll reverse the bearish sentiment and will probably keep climbing for the next couple of weeks - it all depends on how it'll close today;
• Either way, QQQ looks interesting. Let’s keep our eyes open at the $284 area.
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• Now, if it confirms a top sign around this area (any bearish candlestick pattern would work, like a Shooting Star, Bearish Engulfing, DCC, etc), it’ll confirm a Triple Top chart pattern, and QQQ would do a sharp correction from here;
• However, if QQQ breaks the resistance, it’ll reverse the bearish sentiment and will probably keep climbing for the next couple of weeks - it all depends on how it'll close today;
• Either way, QQQ looks interesting. Let’s keep our eyes open at the $284 area.
Remember to follow me to keep in touch with my analyses!
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