Trading Plan for the days action 26/11/21

The SPI200 traded in a tight range with no lead from big brother. Price held between 7410 and 7393. Expecting to see a flush higher on the open and then it will be about a move back into the range below 7415 or an extended move up. Of course if it flushes lower then watching 7376. The DOW drifted higher into 35900 as expected so watching to see if price continues to grind back down or whether we will see a retest…either way I am not expecting much today. The Hang Seng initially flushed lower and then later rallied and held above 24655. It seems that there has been a long of flushing lower and then accumulation which may see the underlying index pressure higher. Watching for another flush lower and then a higher low. The Nikkei found sellers cap the action lower off 29530. Price was contained with the US closed. We may see another retest and fail off 29530 again or a flush into 29420 before a rally…either way they are the two key levels today.

Cryptos found some bulls stepping out of the shadows and get involved into the action. Bitcoin pushed up through 57880 and rallied into resistance at 59250 before finding sellers to cap the action. Watching the level to either work a lower high and continuation trade down or a key higher low to hold to break up through. Ethereum smashed up through 4340 as expected off a higher low entry setup at 4270. Price is extended and may see some profit taking at 4520 so trading the level much the same as Bitcoin.

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SPI200 Index

DOW Index

Hang Seng Index

Nikkei Index



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