Hey, traders. Hope you guys start new week with positive energy.
Let's check US100 chart quickly.
We can see
1. the descending channel.
2. rebounding from middle line of the descending channel.
3. the price has almost reached top price of the descending channel.
We should check
Mon - British Manufacturing PMI
Tues - US CB Consumer Confidence (Oct)
Wed - US New Home Sales (Sep), BoC Interest Rate Decision
Thurs - BoJ Outlook Report (YoY), ECB Monetary Policy Statement, US GDP (QoQ) (Q3), US Initial Jobless Claims, ECB Press Conference
Fri - BoJ Monetary Policy Statement, German GDP (QoQ) (Q3), German CPI (YoY) (Oct), US Core PCE Price Index (MoM) (Sep), Pending Home Sales (MoM) (Sep)
We can expect
1. the price dropping from the resistance on 11600.00 which is top price of the descending channel.
2. rebounding from the support on 10000.00
3. keep falling to 8000.00 by breaking the support on 10000.00. This will be collapse.
As we predicted last week, there was short-term rebounding to top line of the descending channel.
This was because of the rumors that makes market expect the Fed might regulate thier stricted monetary policy slower.
But, it was only expectation. This means market is still bearish and we can expect the price dropping.
Till the price reaches 10000.00, we keep our short position.
Let's see how it moves.
Thank you for reading and hope this insight was helpful.
Analyzed by Han.
Let's check US100 chart quickly.
We can see
1. the descending channel.
2. rebounding from middle line of the descending channel.
3. the price has almost reached top price of the descending channel.
We should check
Mon - British Manufacturing PMI
Tues - US CB Consumer Confidence (Oct)
Wed - US New Home Sales (Sep), BoC Interest Rate Decision
Thurs - BoJ Outlook Report (YoY), ECB Monetary Policy Statement, US GDP (QoQ) (Q3), US Initial Jobless Claims, ECB Press Conference
Fri - BoJ Monetary Policy Statement, German GDP (QoQ) (Q3), German CPI (YoY) (Oct), US Core PCE Price Index (MoM) (Sep), Pending Home Sales (MoM) (Sep)
We can expect
1. the price dropping from the resistance on 11600.00 which is top price of the descending channel.
2. rebounding from the support on 10000.00
3. keep falling to 8000.00 by breaking the support on 10000.00. This will be collapse.
As we predicted last week, there was short-term rebounding to top line of the descending channel.
This was because of the rumors that makes market expect the Fed might regulate thier stricted monetary policy slower.
But, it was only expectation. This means market is still bearish and we can expect the price dropping.
Till the price reaches 10000.00, we keep our short position.
Let's see how it moves.
Thank you for reading and hope this insight was helpful.
Analyzed by Han.
