- QQQ Week has closed below the cloud and price is sustaining below it. 30 Minutes chart shows a trending down move. Bears will remain strong below the cloud. Support is expected near the rising support line of Monthly chart.
January 20, 2016
QQQ chart analysis
ES before opening bell
- ES violates crucial support zone around 1860 - 70 levels.
- 15 Minutes cloud is the immediate resistance above that a bounce towards the broken support zone is possible.
Crude Oil chart update
- Crude oil bounce was short lived. One hour chart shows price getting resisted at 200 Hour SMA.
- Month chart shows price moving towards the next swing low which was made back in 2003.
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