JICPT| JPM got support from flip heading to previous high!

Hello everyone. The conflict between Russia and Ukraine has been on the center stage since last Monday. global stock market have been volatile for a majority of the week. With no intention of sending troops to Ukraine, market started to calm down. Hopefully, it'll be over soon. It's really painful to see those photos.

Get back to the technical side, there was buying pressure around the key flip level of $140 with increased volume as confirmation signal.

Other than that, the rate hike next month will also benefit the banking sector. The question is 25bps or 50bps.

Comment:

Yep. I'm wrong about the flip level. The huge volume with the confirmed breakout structure indicated the possibility of further fall. The quick retest is the exit opportunity for swing traders.

Comment:

The next strong demand zone is 118-120