QQQ about to get a reversal for the short term into #2 trend line.
There are few reasons for that:
1. QQQ had amazing rally since March
2. On 2nd september, a correction from the high started. it blocked exactly at the 23% Fibonacci level (see linked overview)
3. after a small correction, QQQ fell down below 50MA
4. Now, after a correction, 50MA should be used as resistance level.
My assume is that 50MA will be a resistance level, and then QQQ will fall staright to #2 trend line which is also arounf the 38% Fibonacci level
From my Point of view, as lone as we're above #2 line, we're still buillish.
There are few reasons for that:
1. QQQ had amazing rally since March
2. On 2nd september, a correction from the high started. it blocked exactly at the 23% Fibonacci level (see linked overview)
3. after a small correction, QQQ fell down below 50MA
4. Now, after a correction, 50MA should be used as resistance level.
My assume is that 50MA will be a resistance level, and then QQQ will fall staright to #2 trend line which is also arounf the 38% Fibonacci level
From my Point of view, as lone as we're above #2 line, we're still buillish.
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.