US100(Nasdaq100) Insight

Hey traders. Today's chart is US100.
Let's check it quickly.

We can see
1. the descending channel had broken.
2. support on 10600 and 10100.

We should check
Tuesday - BoJ Monetary Policy Statement, US Building Permits
Wednesday - US CB Consumer Confidence, Existing Home Sales, Crude Oil Inventories
Thursday - UK GDP, US GDP, US Initial Jobless Claims
Friday - US Core Durable Goods Orders, Core PCE Price Index, US Core PCE Price Index, US New Home Sales

We can expect
1. the price drops to 10600 and rebounding.
2. the price drops to 10100 by breaking support on 10600.

There were big issues in the market last week.
After those events, factors implied market is bearish. And, actually, maket is going downward.
If you have short position, there will be first support on 10600 which you may need to close your position.
After that, if the price breaks 10600, we can have second chance to have short position to 10100.
If the support on 10600 is kept, be ready to have long position to 12800.

Let's see if we can have chances to make good trade.

Thank you for reading and hope this insight was helpful.

Analyzed by Han.