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SPI200 HANG SENG N225 and DOW Index CFDs
Time Frame : 5/30 Min Charts
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Watch Here for further Updates as the action plays out – Refresh Page during the day.
Pre-Market Plan
The SPI200 rallied hard on the vaccine news (as did all indexes) to trade to 6541 before backing off into the close. Price found sellers to hold 6504 and then a lower high at 6485. Expect that there will be some volatility on the open of the ASX but I would like to see some heat come out of the action and then evidence that a higher low will hold before diving into a long. On teh flip side, we may see an unwind into an extended market. The DOW fell into the close holding a minor lower high at 29700. Price rejected the new all time highs on the index so it will be interesting to see if there is going to be a further long squeeze before a new support level holds. The Hang Seng fell over 500 points off its highs made during the US session to retrace a lot of the gains made on the back of the news. We will be looking for buyers to hold the 26375 area for a long. A deeper correction does not bode well for buyers. The N225 is also backing off the highs so if 25611 holds then expect a further squeeze lower. If the 25390 area gets flushed and then reclaimed on the open, then we may see a test of the highs.
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SPI200 Index
DOW Index
Hang Seng Index
Japan 225 Index
