Yuba_Tamazgha

Potential Bearish Crab on Powershares

Short
NASDAQ:QQQ   INVESCO QQQ TRUST UNIT SER 1
Powershares is showing signs of potential bearish crab pattern. The PRZ is measured from A to X leg at the 1.618 extension level at price $96.23. Even though there is naked structure around $96.28 kill zone, There is confluence at $96.28 at the 3.618 & 1.618 extension level. This should act as resistance. If this plays out, we should see a good rejection which would lead to Powershares taking a nice pull back into X where there is previous structure support .



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