What is next for QQQQ on Monday?

janez

A near-sighted analysis:

QQQQ: Support: 35 (mini support:35.3)
     Resistance: 37 (mini resistance: 36.1)
http://stockcharts.com/h-sc/ui?s ... 29414&listNum=1

What next? If continue down, will touch 35 or 34.8
If up, could fill the July 2nd gap and reach 36.8
Note that on Daily, ema(7) and  ema(21) are at the cross point.

60min chart: http://stockcharts.com/h-sc/ui?s ... amp;id=p01761026963
a double top formed. Thus the possibility of going down to 34.8 should be higher.
But RSI, MACD and BB all indicate that not much room to go further down, a reversal up maybe possible on Monday open. This may be more reliable.

QQQQ around 36.1 could be a good time to enter shorts.

Comments welcome.

whzdf

xiamang

You will always see more than one top as ascending triangle or range mode forms. You can ascertain the double top only when the patter has already double topped.

A very very very little frog