The SPI200 made back some of the days losses but consolidated around 7207 in a lacklustre US session. If price action can fend off a flush lower on the open, then expected to see another squeeze higher towards 7277 on some bargain hunting as long as the ASX200 holds above 7200. The DOW is in a precarious position for me as price is hovering around 34520 and borderline set to hold a major lower high. Is all about the 34520 level either holding for a selloff or more back and fill higher to squeeze out more sellers. The Hang Seng showed some surprising strength yesterday that caught many off guard including myself…a reminder to trade what you see not what you think! Watching the 24465 level to see whether it will hold or not for a move either up to 24690 or down to 24190…bets are on 24690 for now. The Nikkei fought back well from the days weakness and managed to test into 29830. The way price is consolidating between 29830 and 29658, expecting to see a squeeze on sellers and for 29658 to hold today. If not, a move down into 29465 is on the cards.
Cryptos gave up early gains to push back down into major lows into the US close. Price has recently rejected theses lows so buyers may step in again to defend the levels. If not then there may be a major squeeze lower although, with little action from shares overnight, expecting to see a grind higher.
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