July 19, 2012

QQQ Descending Broadening Wedge an update

  • The descending broadening wedge of QQQ has given a breakout.
  • QQQ had a similar pattern in daily chart which performed well as shown in daily chart.
  • For this pattern if price closes above the Golden ratio we may see the recent high's at 68 getting tested again.
  • Unable to sustain above Golden ratio will result in a gall back into the pattern.



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