QQQ: Breaking some Key Resistances. Could it recover from here?
• QQQ is in a key resistance area, under the 61.8% retracement (previous support, now resistance);
• Since QQQ is trying to break this key point, it seems it will trigger the Hammer candlestick pattern from last Friday;
• This bullish reversal sign could take QQQ to higher levels, at least to its 21 ema again, in the short-term;
• If this will turn out to be a mid-term reversal structure, it is too soon to tell, as we must pay attention on how it’ll react near its next resistances;
• The 38.2% retracement along with the 21 ema is a key resistance to pay attention in the next few days, if QQQ gets there;
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• Since QQQ is trying to break this key point, it seems it will trigger the Hammer candlestick pattern from last Friday;
• This bullish reversal sign could take QQQ to higher levels, at least to its 21 ema again, in the short-term;
• If this will turn out to be a mid-term reversal structure, it is too soon to tell, as we must pay attention on how it’ll react near its next resistances;
• The 38.2% retracement along with the 21 ema is a key resistance to pay attention in the next few days, if QQQ gets there;
Remember to follow me to keep in touch with my analyses!
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