Hey, traders. Hope you guys had good weekend.
Today, our chart is US100. Let's check it quickly.
We can see
1. short-term descending channel had broken
2. support on 11800.00
3. resistance on 12900.00
We should check
Monday - Britain Composite PMI, Britain Services PMI, US ISM Non-Manufacturing PMI
Tuesday - Britain Construction PMI (Nov), CAD Ivey PMI (Nov), EIA Short-Term Energy Outlook
Wednesday - BoC Interest Rate Decision, Crude Oil Inventories
Thursday - GDP (QoQ) (Q3), ECB President Lagarde Speaks, US Initial Jobless Claims
Friday - US PPI (MoM) (Nov)
We can expect
1. by support on 11800.00, price rebounded and goes upward to 12900.00.
2. the price drops by resistance on 12900.00 to 12400.00.
By US Nonfarm Payrolls, US100 price had big movement but market is still focusing on Fed's monetary policy and this made the price jumping up.
We already had chance to buy, but I can see there will be second chance to buy on 11800.00.
12900.00 will be strong resistance so, at this price, we will close our Long position and open Short position.
Let's see if the market goes as we expect.
Thank you for reading hope this insight was helpful.
Analyzed by Han.
Today, our chart is US100. Let's check it quickly.
We can see
1. short-term descending channel had broken
2. support on 11800.00
3. resistance on 12900.00
We should check
Monday - Britain Composite PMI, Britain Services PMI, US ISM Non-Manufacturing PMI
Tuesday - Britain Construction PMI (Nov), CAD Ivey PMI (Nov), EIA Short-Term Energy Outlook
Wednesday - BoC Interest Rate Decision, Crude Oil Inventories
Thursday - GDP (QoQ) (Q3), ECB President Lagarde Speaks, US Initial Jobless Claims
Friday - US PPI (MoM) (Nov)
We can expect
1. by support on 11800.00, price rebounded and goes upward to 12900.00.
2. the price drops by resistance on 12900.00 to 12400.00.
By US Nonfarm Payrolls, US100 price had big movement but market is still focusing on Fed's monetary policy and this made the price jumping up.
We already had chance to buy, but I can see there will be second chance to buy on 11800.00.
12900.00 will be strong resistance so, at this price, we will close our Long position and open Short position.
Let's see if the market goes as we expect.
Thank you for reading hope this insight was helpful.
Analyzed by Han.
