A "Bearish flag" and a "Head and Shoulders" pattern.
We have two bearish patterns on the daily chart.
A "Bearish flag" and a "Head and Shoulders" pattern.
When the QQQ crosses the H. and S.s baseline/Point of Control (294.7), pay attention to the volume.
If volume is high, a continuation is expected.
But if the volume is low, the price might retest the baseline or even claim it back.
It is because, MACD shows weak bearish momentum, RSI is showing higher lows, and the 13.09. gap-down was with relatively low volume.
Resistance: 311.03
Support: 286.69, 26.7
A "Bearish flag" and a "Head and Shoulders" pattern.
When the QQQ crosses the H. and S.s baseline/Point of Control (294.7), pay attention to the volume.
If volume is high, a continuation is expected.
But if the volume is low, the price might retest the baseline or even claim it back.
It is because, MACD shows weak bearish momentum, RSI is showing higher lows, and the 13.09. gap-down was with relatively low volume.
Resistance: 311.03
Support: 286.69, 26.7
