Potential bullish bat to monitor near the 200 SMA line
Just like the $SPY, $QQQ also managed to hold above major daily SMA line (50) but below major structure (read SPY's analysis in link below).
If the 111$ zone will act as resistance, it could push price lower towards a bullish pattern completion, near 107$ and the daily 200 SMA line
A close below the 50 SMA line will be a nice confirmation signal that the price indeed intends to reach lower.
This analysis is part of this week's Weekly Markets Analysis newsletters - goo.gl/AGTYS1
You can subscribe to my weekly newsletters here: goo.gl/HXjCPV
If the 111$ zone will act as resistance, it could push price lower towards a bullish pattern completion, near 107$ and the daily 200 SMA line
A close below the 50 SMA line will be a nice confirmation signal that the price indeed intends to reach lower.
This analysis is part of this week's Weekly Markets Analysis newsletters - goo.gl/AGTYS1
You can subscribe to my weekly newsletters here: goo.gl/HXjCPV
