Time Frame : 5/15/30 Min Charts
The SPI200 was ramped higher into recent resistance in a big move during the US session. Expect that the buyers will be tentative on the open as price is stretched so we expect to see a squeeze lower. We do not share the bullishness that the move up suggests so will be cautious buying any higher low. The DOW was ramped higher in a strange move once Europe closed for trade. Expecting to see some heat come out of the run up and for minor lower highs to hold into the European session. The Hang Seng is just below the 29280 area that may see some action from sellers on the open. If price flushes up through the level hard on the open, then watching for a higher low and run up. The Index looks set to see some pressure after reacting lower off 29400 so this may see a flush and hold of 29280 on the CFD. The Nikkei (N225) is right at the 29215 area which is the important level for the day for either a fade off the zone or a break, retest and rally.
Bitcoin and Ethereum both have some nice price structure but may take some time to play out for bulls. Watching Ethereum for a run up through 1700 and squeeze of sellers. Bitcoin may need to flush some late buyers out before working higher off 49400.
You may also like these. If not, just go back to the overview:Overview