With a new week in focus I reset our Data Points and conduct a reassessment of the broader markets. As the new weeks' begin, I like to give the markets breathing room; therefore, seeing how market behaves around my data points, and around my neutral levels. With that being said, I will outline the levels in the below, of which, are important for all timeframes. I do have both daily and intraday levels; however, I will focus on the daily levels.
The first area of contention is the 11,602.92 (downside) and the upside of 11,698.25, which places the price action into a tight channel; whereas, opening the door for some intraday trading, etc. Thank you for all of those who viewed the additional assessment artifacts found on my TradingView profile.
So, what levels for the week would I be focused on it looking at the:
Downside:
Upside:
The first area of contention is the 11,602.92 (downside) and the upside of 11,698.25, which places the price action into a tight channel; whereas, opening the door for some intraday trading, etc. Thank you for all of those who viewed the additional assessment artifacts found on my TradingView profile.
So, what levels for the week would I be focused on it looking at the:
Downside:
- Friday's Close of 11,553 for sentiment purposes.
- 11,522.75
- 11,435.50
- 11,348.25
- 11,260.75
- I will monitor the week to see how these levels play out on the downside and whether or not the price action could reach the extreme level 11,096.
Upside:
- 11,698.25
- 11,785.50
- 11,873.25
- 11,960.50
- I will monitor the week to see how these levels play out to the upside towards the extreme level of 12,010.
