QQQ short term downward movement

2022年5月24日

The QQQ being in a downward trend gives us the advantage of trading with the market. We also see a wedge forming and the QQQ making lower highs and lower lows. We can also see the resistance is holding very well around the 295$ level, and is not giving in to any sort of bullish move. The price will bounce off this resistance then possibly bounce down using the moving average as another resistance, and push the price down to the 285$ support. could bounce off the first support, but if it breaks it will get one more touch on the falling wedge before bouncing.