-INTRODUCTION-
US100 is currently moving in a downtrend. This index likes to consolidate within a horizontal channel before breaking down to reach a new low. From the chart, we can spot several horizontal channels formed from the new support levels. Observing closely, we can see that when the price has retraced and reached the top of the channel, it almost always fell sharply down to retest the previous low.
-TRADING PLAN-
Currently, the price is retracing from the yearly low and reaching the top of the channel. From the $12600 level, we will observe whether the price will break the resistance level or consolidate and drop.
US session tomorrow should create some signals.
Check out our previous trading ideas below :)
US100 is currently moving in a downtrend. This index likes to consolidate within a horizontal channel before breaking down to reach a new low. From the chart, we can spot several horizontal channels formed from the new support levels. Observing closely, we can see that when the price has retraced and reached the top of the channel, it almost always fell sharply down to retest the previous low.
-TRADING PLAN-
Currently, the price is retracing from the yearly low and reaching the top of the channel. From the $12600 level, we will observe whether the price will break the resistance level or consolidate and drop.
US session tomorrow should create some signals.
Check out our previous trading ideas below :)
