In continuation to my previous chart on CQQQ, price has continued to move up in the channel and broken the previous resistance of 52.30, which will now act as immediate near-term support levels for the ETF
Meanwhile, price continues to make higher highs and higher lows, indicating current trend is upwards
Chart is self-explanatory
Important Support and resistance levels are as below
S1 : 52.35
S2 : 49.00
R1 : 55.58
R2 : 60.74
Note : 55.58 also happens to be an important level not only on the Fib retracements and price likely to test this level, but also this level has acted in the past as an important support level where prices has have bounced off these levels as visible In the chart. This level will now act as a resistance level going ahead.
It will be interesting to see how price shapes from these levels
