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 on charts and SEE THE TRADE first —
The SPI200 drifted lower off highs at 7283 and we may see more downward pressure on the open considering the US inflation fears and being a Friday….and we are the ASX. Would like to see a flush higher and then lower high for shorts or a flush lower and then higher low for a grind back up. The DOW flushed below 34470 prior to the stock market open before bouncing back to end above the level. We expect to see a grind lower and then will be watching for a higher low. Expect that anyone who would react on jobs data already has, so there is risk to the upside if the number tonight disappoints. The Hang Seng held the 28895 level into the close so we expect to see some action lower off the level if 29000 holds or a flush and run higher. The Nikkei (N225) is being pressured lower with the 29025 level holding. We may see some chop today being a Friday with bulls potentially being capped due to the employment release in the US tonight.
Crypto moved up with Bitcoin and Ethereum leading the way. We expect to see bitcoin pressure into the 40k level so watching for a minor higher low for some continuation. Ethereum is also pressuring higher and is expected to run into 3000 for a squeeze on sellers so same game plan as for Bitcoin.