November 14, 2012

QQQ Positive Divergence

  • QQQ Daily chart with MACD indicator has been showing positive divergence for some time now without any reversal.
  • 200 and 20 Day SMA is about to do a bearish cross and any reversal attempt will face stiff resistance around this bearish cross zone near 65.
  • Daily chart is showing a pin bar candle at channel support line with the positive divergence this setup may result in a small bounce. Trading below 62.78 will continue to favor bears.

No comments:

Post a Comment