Trading Plan for the days action 2/12/21

The SPI200/ASX200 were both hit hard into the US close to clear out some support levels. The ASX will open weaker into a key support zone so it will be important that bulls can hold otherwise the selling can accelerate. The DOW also flushed support into the close after the big selloff. Price pushed below the 34250 area and could easily extend into 33780 before finding some bargain hunters/profit takers. The Hang Seng gave back earlier strength and fell over along with the US. Price pushed lower into 23305 (CFD trading after futures close). Watching the level for action on the open to see if there will be continuation lower or whether bulls will again step in today. The Nikkei ploughed into 27415 being hammered down from 28000. The recent action on the underlying index has been negative so expecting some action around 27415 on the open. Price may need to flush some sellers out prior to another move down.

Cryptos held up okay until the USD rallied and pressured currency crosses (yes cryptos are not immune to the USD moves). The key levels I am watching today are 55750 on Bitcoin and 4520 on Ethereum.

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SPI200 Index

ASX200 Index

DOW Index

Hang Seng Index

Nikkei Index



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