QQQ $108.22: Approaches 7-week triangle resistance

QQQ rebounded off 105.55 (April 17, 2015 low) to test the 108.38 range high (April 13, 2015) just beneath 7-week triangle resistance (March 2, 2015 high and March 26, 2015 low). The daily MACD remains bullish, suggesting scope for further upside. If bulls manage to overcome 108.38/108.41 (April 21, 2015 high) and the triangle upper bounds, that would signal a triangle breakout and trigger further gains towards 109.07 (March 20, 2015 high) and then 109.41 (March 2, 2015 record high). However, if the 108.38/108.41 resistance zone caps the rally, a downside reversal below 105.55 would prolong the consolidation and expose the 104.24/104.34 key support area (March 26/April 6, 2015 lows) which may hold dips again.
Outlook:
Short term: bullish
Long term: bullish