SPI200 HANG SENG N225 DOW Index CFDs and Cryptos
Time Frame : 5/15/30 Min Charts
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Pre-Market Plan and KEY LEVELS and PRICE ACTION to watch
— Remember to work off Key Levels from charts —
The SPI200 added to the day session losses and moved lower into support. We will be watching the open for a flush into 7023 and then a bounce or a flush of 7028 and then further weakness. With the weakness into the USD and strength into commodities, we may see some support into 6999. The DOW held up off 33980 and moved back into 34150 into the close. Expect to see sellers try to cap a rally into 34150 so will be watching for failure at the level or a break and retest for a long. The Hang Seng nearly gave back all the gains from the day session as longs were squeezed back out of the action. If price flushes lower on the open then we will will watch the action around, or below, 28718 for a rally. On the flip side, if price spikes, watch for a higher low on a lower timeframe 5min chart. The Nikkei (N225) fell apart into the US open and traded down to 29175 where it bounced. We will watch to see if a retest of the zone is on the cards or a grind higher as price is in no mans land at the moment.
Cryptos held just above the weekend lows so bulls are a little concerned. Both bitcoin and ethereum will need to hold above overnight lows and build a higher low for a move up. If not, then another decent selloff may be on the cards.