Invesco QQQ Trust, Series 1

Nasdaq QQQ Testing Major Overhead Resistance

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This is the bear's last hope. Nasdaq is testing very strong overhead resistance that goes back to January 2018.

If it's able to clear this resistance and use it as support, we may continue to see further upside. However, long term traders and institutions will likely see this as a great area to take profit.

I recommend trading on the 1 hour chart to see which side of the trend line price is going. For further confirmation, wait for a retest of the trend line before entering a trade.

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