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 ramped up through the European and US sessions to squeeze out a lot of shorts. Expect that the 6977 level will be the key level to hold today if price heads back for a retest. If it can not hold it may be a grind lower into the weekend to give up ASX open gains. The DOW bounced back hard and we expect to see a further rally as the inflation concern eases with the fall in the CRB index. Watching for a squeeze lower to reset for another leg higher. The Hang Seng is holding the downtrend but also holding off a higher low so we have two key levels for the day…27700 and 27925. For bulls I am looking for a flush lower and rally and visa versa for shorts just to trap some traders prior to a move. The underlying index is under pressure but into a daily low so may see a flush and reverse higher…either way it will probably be another tough choppy session. The Nikkei (N225) pushed up off lows around 27180 so the question is which way will it squeeze on the open??!! Expect a bullish move to come off a washout lower but it could just as easily run straight up from the open after the US bullishness.

Cryptos remains under pressure with Ethereum starting to show some cracks appearing. Key levels on Ethereum are 6570 to hold and bring in some buyers or 3906 to hold the action down. Bitcoin retested yesterdays lows and is showing early signs that price may hold today above 47700. Expect that buyers will have some work to do before a decent rally and squeeze on sellers.

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SPI200 Index

DOW Index

Hang Seng Index

Japan N225 Index

Bitcoin

Ethereum