QQQ Analysis 1 Day Chart

QQQ overall has been in a bullish channel for ages. For trends to have continuous strength one of two things must occur:
1. Areas of Consolidation
2. Areas of Retracement

I Currently see QQQ undergoing a level of retracement. It was at the .382 Fibonacci level at the time of me making this. But I could easily see price touch 0.5 levels before I expect a bounce off.

Sentiment: Neutral

Reasons
1. Ascending Channel
2. Prominent Selling Volume

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