Charts Marked with anticipated price action entry setups in yellow.
Traders continued to be concerned over Ukraine and a bigger Russian invasion as Ukraine declares a state of emergency. Major Indexes moved lower once the US kicked off trading and oil found buyers.
The SPI200/ASX200 both hovered around resistance in the European session before heading south once US trade got underway. Prices pushed through support and into lower support around 7022 for SPI200 and 7102 on the ASX200. These two levels will be key for the opening action to see whether we get continued nervousness and a move lower or some bargain hunting up of the levels. The DOW broke into new lows and ended around 33195 with a potential extension into 33005 on the cards today. Watching to see how buyers react in the Asian session for either a squeeze up and scalp or continuation down. The Hang Seng was hovering around 23722 before taking a hit in US trade. Price moved straight through lows and into 23290 into the close. There is potential for a bigger move down on the open through 23138 to clear out more buyers. The Nikkei continued to hold lower highs and eased the seller strength into 26255. This is the key level today on the open as it would be ideal to flush the level to target stop losses on the open. From there is will be about a squeeze higher or continuation lower.
Cryptos spent the Asian and European sessions moving higher before sellers came into the action from the start of US trade. Bitcoin is between two key levels so today will be looking for a continuation pattern lower or a bounce into resistance. Ethereum is much the same but looks set to extend lower into 2590 before buyers take a nibble at the action.
Spot Gold gold spent the Asian and European session moving lower into 1886 before ramping back up to clear out sellers into 1910. Price is again extended into the level so will need to build a solid higher low before I expect a longer term move up through 1910….has had a few chances to break the level.
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Hang Seng Index