📊 Market Sentiment: Bullish Trend with Cautious Watch
The market continues its upward trajectory, indicated by 8 consecutive green days, but now faces a critical juncture just under major resistance. While the bullish trend is dominant, traders should be vigilant for any trend reversals.
🌏 Major Global Catalysts
📷 Snapshot
Daily Data Sentiment Analysis:
4-Hour Data Sentiment Analysis:
📉 Support Levels
📈 Resistance Levels
📝 Trading Plan
Bull Case Analysis:
Bear Case Analysis:
Tomorrow’s Outlook:
Disclosure: This is not financial advice and is for informational purposes only. Please consult a professional financial advisor before making any investment decision.
The market continues its upward trajectory, indicated by 8 consecutive green days, but now faces a critical juncture just under major resistance. While the bullish trend is dominant, traders should be vigilant for any trend reversals.
🌏 Major Global Catalysts
- Tesla's Wage Increase: Impacts on union interest at the Nevada Gigafactory.
- North Korea's ICBM Launch: Escalating geopolitical tensions.
- Market Reactions: Mixed signals with rising Treasury yields and fluctuating European and Asian markets.
- Venezuela-Guyana Territorial Dispute: Agreement to resolve peacefully.
- China's Economic Challenges: Deflation risks highlighted by falling pork prices.
- Crypto Political Influence: Super PAC's significant funding for the 2024 elections.
- Russia-Ukraine Conflict: New EU sanctions amidst Putin's re-election plans.
📷 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: 4788-90, 4781, 4772, 4766, 4763, 4753, 4744, 4730-34, 4726, 4719, 4708, 4698-4700, 4692, 4684, 4673, 4663-66, 4654, 4648, 4634, 4630, 4618-20.
- Minor: 4764, 4724-26, 4717, 4700, 4690, 4684, 4678, 4674, 4670.
📈 Resistance Levels
- Major: 4796, 4806, 4810-12, 4817, 4825-27, 4838, 4848, 4860, 4873, 4883, 4900, 4906, 4910, 4923-25, 4932, 4945, 4953, 4962, 4976, 4990, 5002.
- Minor: 4787, 4795, 4816-20, 4826, 4838.
📝 Trading Plan
Bull Case Analysis:
- Key Levels: 4781, 4772.
- Strategy: Maintain the breakout, targeting 4808-10.
- Risks: Be cautious after 8 green days, the trend could shift.
Bear Case Analysis:
- Target Short Entry: If 4773 fails, consider shorts with caution.
- Profit Targets: Watch for potential dips towards 4708.
- Strategy: Discipline in profit-taking is key, watch for market traps.
Tomorrow’s Outlook:
- Discipline and Strategy: Monitor 4781 and 4773 supports closely.
- The market remains bullish, but a shift is possible at any moment. Monitor support and resistance levels diligently and adjust strategies as needed.
Disclosure: This is not financial advice and is for informational purposes only. Please consult a professional financial advisor before making any investment decision.