📊 Market Sentiment: Neutral to Bullish
📈 The Markets Overnight
🌏 Asia: Mixed, China down a lot
🌍 Europe: Up a bit
🌎 US Index Futures: Up a bit
🛢 Crude Oil: Up a bit
💵 Dollar: Down slightly
🧐 Yields: Down
🔮 Crypto: Down
🌏 Major Global Catalysts
📷 Snapshot
Daily Data Sentiment Analysis:
4-Hour Data Sentiment Analysis:
📉 Support Levels
📈 Resistance Levels
📝 Trading Plan
Disclosure: This is not financial advice and is for informational purposes only. Please consult a professional financial advisor before making any investment decision.
📈 The Markets Overnight
🌏 Asia: Mixed, China down a lot
🌍 Europe: Up a bit
🌎 US Index Futures: Up a bit
🛢 Crude Oil: Up a bit
💵 Dollar: Down slightly
🧐 Yields: Down
🔮 Crypto: Down
🌏 Major Global Catalysts
- COP28 deal calls for the tripling of renewable energy capacity by 2030 and the eventual phase-out of fossil fuels.
- Today’s quarterly FOMC Economic Projections will contain an updated Dot Plot showing projects for the future of the Fed Funds Rate.
📷 Snapshot
Daily Data Sentiment Analysis:
- EMA 9, 21, 55: Indicating a bullish sentiment with closing prices comfortably above these EMAs.
- Overall Sentiment: Bullish.
4-Hour Data Sentiment Analysis:
- EMA 9, 21, 55: Also showing a bullish trend.
- Overall Sentiment: Bullish.
📉 Support Levels
- Major: 4758-60, 4734, 4710
- Minor: 4743, 4720, 4701
📈 Resistance Levels
- Major: 4772, 4780-85, 4808
- Minor: 4793, 4812, 4820
📝 Trading Plan
- Bullish Scenario: For bullish scenarios, holding above major supports such as 4758-60 and then pushing towards levels like 4772.
- Bearish Scenario: For bearish scenarios, a focus on support failures, particularly at 4710-12, would signal a potential trend change and warrant a shift towards short positions.
Disclosure: This is not financial advice and is for informational purposes only. Please consult a professional financial advisor before making any investment decision.