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Type: Bearish Drop Key Levels:Resistance:4049.00Pivot:3914.00Support:3757.50 Preferred Case:Looking at the H4 chart, my overall bias for SPX is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. If this bearish momentum continues, expect price to continue heading towards the support at 3757.50, where the 161.8% Fibonacci line is. Alternative […]
Type: Bullish Rise Key Levels:Resistance:673.75Pivot:651.25Support:638.25 Preferred Case:Looking at the H4 chart, my overall bias for ZC1! is bullish due to the current price crossing above the Ichimoku cloud , indicating a possible shift to bullish market structure. If this bullish momentum continues, expect price to possibly head towards the resistance at 673.75, where the 50% […]
Daily Market Outlook, December 20, 2022 As suggested by wire reports yesterday, the Bank of Japan has confirmed overnight that they will loosen their yield curve control policy, increasing its tolerance band to 0.5%, the confirmation saw the 10-year yield surge to test its ceiling level which added support to the Japanese yen, the move […]
Type: Bullish Rise Key Levels:Resistance:2569Pivot:2422Support:2470 Preferred Case:Looking at the H4 chart, my overall bias for CC1! is bullish due to the current price crossing above the Ichimoku cloud , indicating a possible shift to bullish market structure. If this bullish momentum continues, expect price to head back up towards the resistance at 2569, where the […]
Equities Plunging Ahead of Christmas As Recession Fears Weigh Global equities benchmarks are trading with a heavy tone today as risk markets remain under pressure across early European trading on Tuesday. The driver appears to be the renewed focus being put on global recession risks on the back of last week’s slew of central bank […]
The Bank of Japan announced an unexpected change to its bond yield targeting policy and will now allow 10-year JGB yields to rise to 0.50%. Although Central Bank Governor Kuroda has warned unequivocally that this is not a rate hike, curbing speculation about a further BOJ normalization in 2023 will not be easy. USD/JPY may […]