Commodities
Mixed Market Signals: Bullish QQQ, Bearish Oil
A market update from Moomoo highlights bullish and bearish sentiments for various assets. The Invesco QQQ Trust (QQQ.US) is seen as clearly bullish, with its price above the 5ma, 50ma, and 200ma, with Bollingers pointing up and expanding. The author's upper target is $740, with support at $730 and $726.
The Nasdaq-100 (same as Qs) also shows a bullish bias, but needs to break above the RSI spike or risk a pullback. The author's upper target for this asset is $782.40, with support at $777.20 and $775.
Crude Oil Futures (OCT6) (CLmain.US) appears to be building support, but the long-term bias is high while the short-term view is bearish. The author sees a potential bear flag in this asset.