Trend Structure
The long-term trend remains bullish, supported by the 200-day moving average.
However, the short-term structure has shifted bearish, with price losing the faster moving averages (20/50 MA).
The chart shows lower highs forming after the rejection near $620, which is a sign of potential continuation to the downside.
This setup suggests a corrective pullback within a larger uptrend.
Key Resistance
$625 – Major Resistance / Invalidation Level
Several rejections occurred around this level.
A daily close above $625 would invalidate the bearish scenario and could trigger a bullish continuation toward new highs.
Downside Targets
If the bearish pressure continues, the following support zones become the next liquidity levels:
T1: $545
First major support and prior demand zone.
T2: $533
Secondary liquidity level where buyers may attempt to step in.
T3: $510
Strong structural support and psychological level.
T4: $465
Major macro support from previous consolidation.
Technical Confluence
Several factors support the bearish retracement scenario:
Loss of short-term moving average support
Repeated rejection from $620 supply zone
Price compressing below the MA ribbon
Potential retest of the 200-day moving average trend line
Trading Plan (Bearish Scenario)
Current Zone: ~$597
Invalidation:
Daily close above $625
Targets:
T1: $545
T2: $533
T3: $510
T4: $465
Conclusion
The Invesco QQQ Trust appears to be entering a healthy correction after an extended rally. As long as price remains below $625, the probability favors a pullback toward the $545–$510 support region, where stronger buying interest could emerge.
The long-term trend remains bullish, supported by the 200-day moving average.
However, the short-term structure has shifted bearish, with price losing the faster moving averages (20/50 MA).
The chart shows lower highs forming after the rejection near $620, which is a sign of potential continuation to the downside.
This setup suggests a corrective pullback within a larger uptrend.
Key Resistance
$625 – Major Resistance / Invalidation Level
Several rejections occurred around this level.
A daily close above $625 would invalidate the bearish scenario and could trigger a bullish continuation toward new highs.
Downside Targets
If the bearish pressure continues, the following support zones become the next liquidity levels:
T1: $545
First major support and prior demand zone.
T2: $533
Secondary liquidity level where buyers may attempt to step in.
T3: $510
Strong structural support and psychological level.
T4: $465
Major macro support from previous consolidation.
Technical Confluence
Several factors support the bearish retracement scenario:
Loss of short-term moving average support
Repeated rejection from $620 supply zone
Price compressing below the MA ribbon
Potential retest of the 200-day moving average trend line
Trading Plan (Bearish Scenario)
Current Zone: ~$597
Invalidation:
Daily close above $625
Targets:
T1: $545
T2: $533
T3: $510
T4: $465
Conclusion
The Invesco QQQ Trust appears to be entering a healthy correction after an extended rally. As long as price remains below $625, the probability favors a pullback toward the $545–$510 support region, where stronger buying interest could emerge.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.