QQQ Weekly Chart – Technical Breakdown
🧠 Key Observations
Bearish Weekly Rejection
A red candle at the recent high ($574.63) suggests buyers are taking profits.
Short-term reversal likely in play.
First Reaction Zone:
0.236 Fib at $533.87 is the first potential bounce zone.
Aligned with:
Fair Value Gap (FVG)
Upper range of the Weekly Order Block (OB)
Deeper Demand Zone:
If $533 fails, the Weekly Order Block becomes critical.
That zone stretches down toward $520–$508 (Fib 0.382).
Strong historical reaction area — may attract long setups if macro aligns.
RSI Divergence Risk:
RSI shows some signs of flattening.
Still above 59, so momentum is intact — but weakening.
📉 Pullback Path (Base Scenario):
Potential move to $533 → $520, consolidating inside the order block
From there, bullish continuation back toward $575+
Invalidated below $500, where structure breaks
📈 Mid-Term Bullish Bias Intact
Strong uptrend, higher lows still in place
Any dip into the OB + FVG zone = buy-the-dip opportunity.
🧠 Key Observations
Bearish Weekly Rejection
A red candle at the recent high ($574.63) suggests buyers are taking profits.
Short-term reversal likely in play.
First Reaction Zone:
0.236 Fib at $533.87 is the first potential bounce zone.
Aligned with:
Fair Value Gap (FVG)
Upper range of the Weekly Order Block (OB)
Deeper Demand Zone:
If $533 fails, the Weekly Order Block becomes critical.
That zone stretches down toward $520–$508 (Fib 0.382).
Strong historical reaction area — may attract long setups if macro aligns.
RSI Divergence Risk:
RSI shows some signs of flattening.
Still above 59, so momentum is intact — but weakening.
📉 Pullback Path (Base Scenario):
Potential move to $533 → $520, consolidating inside the order block
From there, bullish continuation back toward $575+
Invalidated below $500, where structure breaks
📈 Mid-Term Bullish Bias Intact
Strong uptrend, higher lows still in place
Any dip into the OB + FVG zone = buy-the-dip opportunity.
Sadreddini
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Sadreddini
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.