Market Reversal Fueled by Biden's Positive Remarks on US - NQM

In today's trading scenario, we witnessed a fascinating turn of events. The market initially opened with a downward wick, touching the previous day's closing level and the London session's support. However, the tide swiftly turned, largely attributed to President Biden expressing positive sentiments about the avoidance of the US debt ceiling. This optimism sparked a notable shift in market sentiment.

The levels I outlined at the open were as follows:

Downside: 13505, 13483, 13460, 13430
Upside: 13540, 13575, 13600, potentially reaching as high as 13660.

These levels served as significant benchmarks for today's trading. The upside, though, ventures into somewhat uncharted territory as we have not tested these areas since the highs of August 2022. As we tread these waters, it's crucial to remain vigilant and adaptable to the market's responses to macroeconomic news and global sentiment.

Stay tuned as we continue to track the market's reaction to these crucial levels, and navigate our trading strategies accordingly.