QQQ Analysis 1 Day Chart
QQQ overall has been in a bullish channel for ages. For trends to have continuous strength one of two things must occur:
1. Areas of Consolidation
2. Areas of Retracement
I Currently see QQQ undergoing a level of retracement. It was at the .382 Fibonacci level at the time of me making this. But I could easily see price touch 0.5 levels before I expect a bounce off.
Sentiment: Neutral
Reasons
1. Ascending Channel
2. Prominent Selling Volume
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1. Areas of Consolidation
2. Areas of Retracement
I Currently see QQQ undergoing a level of retracement. It was at the .382 Fibonacci level at the time of me making this. But I could easily see price touch 0.5 levels before I expect a bounce off.
Sentiment: Neutral
Reasons
1. Ascending Channel
2. Prominent Selling Volume
If you like my analysis a follow would be much appreciated 👍🏼
Like/Comment. Let me know what you think.
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