Hey, traders. Starting the new week with positive energy.
Let's check US100 chart quickly.
We can see
1. short-term descending channel .
2. the price had rebounded from the support on 10400.00 which is middle line of the descending channel .
3. resistance on 11500.00 which is top lind of the descending channel .
We should check
Tuesday - German ZEW Economic Sentiment (Oct)
Wednesday - UK CPI (YoY) (Sep), EU CPI (YoY) (Sep), US Building Permits (Sep), Crude Oil Inventories
Thursday - China PBoC Loan Prime Rate, EU Leaders Summit, US Initial Jobless Claims, Philadelphia Fed Manufacturing Index (Oct), US Existing Home Sales (Sep)
Friday - UK Retail Sales (MoM) (Sep), EU Leaders Summit, ECB President Lagarde Speaks
We can expect
1. the price keeps dropping to 8000.00 by breaking support on 10000.00
2. rebounding from support on 10000.00 to 11400.00
3. falling toward 8000.00 by resistance on 11400.00
According to our last analysis, the price had rebounded by support on 10400.00.
This was a good chance to buy. Hope you guys had it.
After rebounding, the price faced the reisistance on 11250 and couldn't break it.
But, still, we think there is one more rebounding from 10000.00 and this will be second chance to buy for short-term.
After that, we can consider to sell on 11400.00 for long-term.
Let's see how it works.
Thank you for reading and hope this insight was helpful.
Analyzed by Han.
Let's check US100 chart quickly.
We can see
1. short-term descending channel .
2. the price had rebounded from the support on 10400.00 which is middle line of the descending channel .
3. resistance on 11500.00 which is top lind of the descending channel .
We should check
Tuesday - German ZEW Economic Sentiment (Oct)
Wednesday - UK CPI (YoY) (Sep), EU CPI (YoY) (Sep), US Building Permits (Sep), Crude Oil Inventories
Thursday - China PBoC Loan Prime Rate, EU Leaders Summit, US Initial Jobless Claims, Philadelphia Fed Manufacturing Index (Oct), US Existing Home Sales (Sep)
Friday - UK Retail Sales (MoM) (Sep), EU Leaders Summit, ECB President Lagarde Speaks
We can expect
1. the price keeps dropping to 8000.00 by breaking support on 10000.00
2. rebounding from support on 10000.00 to 11400.00
3. falling toward 8000.00 by resistance on 11400.00
According to our last analysis, the price had rebounded by support on 10400.00.
This was a good chance to buy. Hope you guys had it.
After rebounding, the price faced the reisistance on 11250 and couldn't break it.
But, still, we think there is one more rebounding from 10000.00 and this will be second chance to buy for short-term.
After that, we can consider to sell on 11400.00 for long-term.
Let's see how it works.
Thank you for reading and hope this insight was helpful.
Analyzed by Han.
