QQQ still confined to the trading channel since 2010The blue trading channel has been a very reliable resistance since 2010. You can see the many times that it has confined price action, only being broken during the COVID bubble. My guess is that it will continue to be resistance. We will likely see a repeat of the action from 2015 and 2018 where price will slowly work sideways but ever so slightly higher with numerous pullbacks until we see a large pullback to the support side of the channel.
Here is what the action looks like on the 1D. You can really see the price trying to break out, but as we saw back in April, it ultimately lost and we had a nice pullback to buy into.