Trading Plan for the days action 3/12/21

The SPI200/ASX200 had a good night to add to the days gains and push into resistance. Watching the resistance levels to see if bulls can follow through today or whether there is some profit taking into the weekend. The DOW rallied off lows around 35250 and into 34750. Watching the 34750 level to see if bulls follow through or lock in some gains ahead of the employment data. Expecting a grind higher into the US open. The Hang Seng was capped at 23880 a few times so looks like a good level for price to flush through. The underlying index held a higher low so may pressure up on the open. If we see an initial flush down to clear out some buyers, then will be watching for a higher low. The Nikkei held the 27800 level in a range below 2800 and has just now popped above the 28000 level on the CFD. The last few sessions have seen a choppy open so expecting more of the same today but generally biased up looking for a higher low to work from.

Cryptos were relatively range bound especially Bitcoin and Ethereum. Still pointing to some concern for a rallying USD as price was capped at 4620 on Ethereum and 57400 on Bitcoin. Watching these two levels today to hold the pressure down.

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SPI200 Index

ASX200 Index

DOW Index

Hang Seng Index

Nikkei Index



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