Hey traders. Hope you guys had good weekend.
Today, we will see US100 chart. Let's check it quickly.
We can see
1. the price had broken the descending channel.
2. overlapped resistance on 12900.00
3. support on 11200.00
We should check
Monday - ECB President Lagarde Speaks
Tuesday - German CPI, BoE Gov Bailey Speaks, US CB Consumer Confidence
Wendnesday - China Manufacturing PMI, German German Unemployment Change, EU CPI, US ADP Nonfarm Employment Change, US 3Q GDP, US JOLTs Job Openings, US Pending Home Sales, Fed Chair Powell Speaks
Thursday - China Caixin Manufacturing PMI, German Manufacturing PMI, Britain Manufacturing PMI, Core PCE Price Index, US Initial Jobless Claims, ISM Manufacturing PMI
Friday - ECB President Lagarde Speaks, US Nonfarm Payrolls, US Unemployment Rate
We can expect
1. rebounding from 11200.00 to 12900.00 by breaking the resistance on 11800.00
2. the price keep dropping to 10600.00 by breaking the support on 11200.00
I was expecting upward movement after Thanksgiving day but there were some bearish factors.
We should check chinese isolation, Fed's monetary policy and consume rate of December. By those factors, the price maybe dropped longer.
But, by breaking the descending channel, upward movemnet will be started soon.
There are two possilbe bottom support line which is 11200 and 11600 and those points are where we will buy.
Let's see if we can have those chances.
Thank you for reading and hope this insight was helpful.
Analyzed by Han.
Today, we will see US100 chart. Let's check it quickly.
We can see
1. the price had broken the descending channel.
2. overlapped resistance on 12900.00
3. support on 11200.00
We should check
Monday - ECB President Lagarde Speaks
Tuesday - German CPI, BoE Gov Bailey Speaks, US CB Consumer Confidence
Wendnesday - China Manufacturing PMI, German German Unemployment Change, EU CPI, US ADP Nonfarm Employment Change, US 3Q GDP, US JOLTs Job Openings, US Pending Home Sales, Fed Chair Powell Speaks
Thursday - China Caixin Manufacturing PMI, German Manufacturing PMI, Britain Manufacturing PMI, Core PCE Price Index, US Initial Jobless Claims, ISM Manufacturing PMI
Friday - ECB President Lagarde Speaks, US Nonfarm Payrolls, US Unemployment Rate
We can expect
1. rebounding from 11200.00 to 12900.00 by breaking the resistance on 11800.00
2. the price keep dropping to 10600.00 by breaking the support on 11200.00
I was expecting upward movement after Thanksgiving day but there were some bearish factors.
We should check chinese isolation, Fed's monetary policy and consume rate of December. By those factors, the price maybe dropped longer.
But, by breaking the descending channel, upward movemnet will be started soon.
There are two possilbe bottom support line which is 11200 and 11600 and those points are where we will buy.
Let's see if we can have those chances.
Thank you for reading and hope this insight was helpful.
Analyzed by Han.
