Analyst Targets QQQ at 740, Turns Bearish on Oil and Precious Metals
Updated
Updated · moomoo.com · Aug 14
Analyst Targets QQQ at 740, Turns Bearish on Oil and Precious Metals
3 articles · Updated · moomoo.com · Aug 14
Summary
QQQ was flagged as the clearest bullish setup, with price above its 5-day and 50-day moving averages and Bollinger bands expanding upward; the analyst set a 740 target with support at 730 and 726.
SPY carried the same upward bias, but the analyst warned it must clear an RSI spike to avoid a near-term "pop and drop" pullback; upside target was 782.40 with support at 777.20 and 775.
Crude oil was described as building support, yet still bearish in the very near term until it breaks higher and closes a gap, even as the longer-term view remains strongly bullish.
Gold and silver drew the same split view as oil—higher over the long run but short-term bearish, with gold specifically seen as forming a bear flag and vulnerable to another low.