Trading Plan for the days action 18/01/22

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Lacklustre session overnight as the US was closed for trading. US bond yields are on the rise again which may pressure Tech and therefore SP500 tonight. Gold may start to run higher (chart below) if bulls can hold the 1813 area. USD is in no mans land at the moment but could be set for a push lower…this will held Gold rally. Oil continues to rally while Copper needs to start to find some buyers for a run back up through highs (30min chart).

The SPI200/ASX200 both grinded higher in a quiet overnight session with the US closed. Price will need to flush lower if we are to see a rally today otherwise looking for a sell into resistance levels. If price gets negative then looking for a lower high below 7428 ASX200 or 7334 on SPI200. The DOW did not do much and had an early close. Will be looking for either a sell off 36010 or a rally and buy through the level. The Hang Seng went sideways once the underlying index closed around 7pm. Watching for a flush higher to be capped and push below 24150 or a flush below 24150 early and then a grind higher. The Nikkei held above the 28305 level for the session but was being capped on spikes. Will be watching for a move into either 28305 or 28518 before looking for a trade.

Cryptos were under pressure overnight as bond yields rallied. Sellers pushed bitcoin lower and look set to test into 40750. This level will need to hold otherwise there could be a bigger move down. Ethereum was also on the back foot all session and looks ready to move into 3105 support. Will be watching for a pop and then a lower high on both above support which may lead to a break of the level and move down.

Spot Gold looks ready to break higher but still has some work to do and needs to hold above the 1813 level.

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SPI200 Index

ASX200 Index

DOW Index

Hang Seng Index

Nikkei Index



Spot Gold

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