The week ahead and you, bull or bear

2023年8月14日

It is with confidence we can say the current minor trend for NQ1! is bearish, as we are constantly making newer lows. But it's a wide channel with opportunities for both bulls and bears.

The current low sits around 15020, and as I previously mentioned, the 15k level is psychologically important for both bulls and bears. Bulls want to support it and bears want a break below. Overnight session shows bulls trying to keep the level away from reach.

I just want to make it clear that in any case, we are in a trading range. Until we break the range, the price has a tendency to keep moving just as before.

Key level is around 14880 for bears. If we break below 15k, there is a higher probability we will reach it. Bulls want to go beyond 15300. Do bulls seem confident to bring it up? So far, not really. Let's keep observing.

Have a great week. Mind your stops :)

2023年8月15日

註釋

We are at the top of the range, and as expected, there's a lot of resistance around the 15300. Bulls need to break and sustain the price with volume. The probability to break is usually low, but considering the price action, I'd be long today. We need to await confirmation.