SPI200 HANG SENG N225 DOW Index CFDs and Cryptos
Time Frame : 5/15/30 Min Charts
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Pre-Market Plan with KEY LEVELS and PRICE ACTION to watch
— Remember to work off Key Levels on charts and SEE THE TRADE first —
It is always important to work off confirmation at levels
The SPI200 moved higher overnight off the days close…back to roughly where it closed the US session Friday. We are watching for a flush of 7288 to trap some buyers before a grind lower to squeeze them back out of the action. The DOW moved up through 34840 and consolidated the gains into the close. Not expecting a lot for the DOW during Asian trade but will be watching to see if some buyers get squeezed out on a grind lower as CPI data is out prior to the US open. The Hang Seng was very contained during European and US trade and moved back up into 27690. The underlying index could just as easily flush lower as it could ramp higher today….so the open is important to get a gauge of the days action. A flush and fail up through 27690 could lead to a selling day while an early flush lower may see another grind up for the session. The Nikkei (N225) is also up around 28730 which we expect to provide some resistance today as the move up off 27785 is well extended.
Crypto was sold lower from the start of the European session with Ethereum being pushed down off 2185 into support around 2028. The plan is pretty simple for Ethereum today…watch to see if buyers can hold support for a rally off the level or whether sellers continue the push lower. Watching for an extension on the move down which could push price to the 1840 area. Bitcoin took a hit and pushed below 33220 which is the key level to watch today. There has been a lot of action and reaction around this level and we expect to see more today with potentially sellers looking to push prices lower.