Trading Plan for the days action

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 backed off 7048 into the US close but we expect to see some buyers come into the action on the open and the ASX to extend on the gains from the end of the week. Risk on is still the favoured play in major Indexes but will caution up at highs. Will be watching the SPI200 for a test to 6999 or break of 7048. Price is in no mans land at the moment so waiting for action from the open to build the picture. The DOW continues to hold between 34175 and 33720 after rejecting the 34175 level in to the close. Watching to see if bulls can hold 33980 for a run up into the US open. The Hang Seng is up at resistance around 29155 so either we see a good move up after a retest or failure back down to 29000 and below. We do not expect to see chop around the level…its not the Hang Sengs style. Expecting that the Index may extend on the rally today. The Nikkei (N225) also closed around resistance at 29175 which we expect to come under fire and see a higher low extend price higher although Japan has covid issues that may cap the enthusiasm.

Cryptos continued the move down as traders are concerned that higher taxes from Biden will cap the bull market bubble. Bulls showing concern for Bitcoin as price pushes down below the 51000 support and holds lower levels. Watching Bitcoin around 48900 for either a move back down off the zone or a deeper correction higher. Ethereum is holding between a range with resistance at 2372 and support at 2171. Nothing for now until we see a lower high or higher low for a press into key levels.

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SPI200 Index

DOW Index

Hang Seng Index

Japan N225 Index