Hey traders. Hope you enjoyed holiday.
Today's chart is US100. Let's check it quickly.
We can see
1. the descending channel had broken.
2. the support on 10600 and 10100.
3. resistance on 11200.
We should check
Wednesday - US Pending Home Sales
Thursday - US Initial Jobless Claims, Crude Oil Inventories
Friday - Manufacturing PMI
We can expect
1. the price drops by resistance on 11200.00
2. rebounding from 10600.00
3. the price drops to 10100.00 by breaking the support on 10600.00
4. rebounding from 10100.00
Since FOMC meeting, US100 had been dropping and it will keep dropping to 10600 Which we are waiting for Long position.
If the price breaks 10600, we will wait for the second support on 10100 for Long position.
(Before we get Long position, if the price reaches 11200, we can have a chance for Short position.)
Let's see if we can have those chances.
Thank you for reading and hope this insight was helpful.
Analyzed by Han
Today's chart is US100. Let's check it quickly.
We can see
1. the descending channel had broken.
2. the support on 10600 and 10100.
3. resistance on 11200.
We should check
Wednesday - US Pending Home Sales
Thursday - US Initial Jobless Claims, Crude Oil Inventories
Friday - Manufacturing PMI
We can expect
1. the price drops by resistance on 11200.00
2. rebounding from 10600.00
3. the price drops to 10100.00 by breaking the support on 10600.00
4. rebounding from 10100.00
Since FOMC meeting, US100 had been dropping and it will keep dropping to 10600 Which we are waiting for Long position.
If the price breaks 10600, we will wait for the second support on 10100 for Long position.
(Before we get Long position, if the price reaches 11200, we can have a chance for Short position.)
Let's see if we can have those chances.
Thank you for reading and hope this insight was helpful.
Analyzed by Han
