QQQQs Bounce off Historic High But find Support in Summer Trendline
20-Day 30-minute Candle Chart with Trendlines and Historic Resitance.Â
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The QQQQs Fund is seen here to be finding support in the lower trendline from July 21st of this summer’s sharp rise. We can also see tha the QQQQs made a run at the 43.31 high from January 1st, but could not maintain the high ground. The Trendline from July 21st was an especially important line of support over the past week. It held the Qs up a good three times. The price also bounced against 43.31 twice, and even broke through briefly. It looks like we are coming to a turning point for the Qs as the Summer Trendline approaches the Resistance from the winter high of 43.31 on January 14th.