November 6, 2012

QQQ Chart analysis

  • QQQ 4 Hour chart shows price getting support between 64.60 - 65.30 zone.
  • Price continue to trade in a descending channel. Price has to break above the channel resistance line for changing the lower high lower low formation.
  • 4 Hour chart shows key resistance line at 200 Period SMA. Bulls need price to sustain above this line for a bigger up move to happen.

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