12/12 Trading Plan - Monday Recap and Day Ahead

Dec 12, 2023

📊 Market Sentiment: Neutral to Bullish

📈 The Markets Overnight

🌏 Asia: Up
🌍 Europe: Up slightly
🌎 US Index Futures: Very near unchanged after declining
🛢 Crude Oil: Down a lot
💵 Dollar: Down slightly
🧐 Yields: Down slightly but well off the lows
🔮 Crypto: Up

🌏 Major Global Catalysts

• CPI inflation prints very slightly hotter m/m, inline with expectations.
  
• COP28 hits roadblock over fossil fuels phaseout language.
  

📷 Snapshot

Daily Data Sentiment Analysis:

• EMA 9, 21, 55: Indicating a bullish sentiment with closing prices comfortably above these EMAs.
  
• Overall Sentiment: Bullish.
  

4-Hour Data Sentiment Analysis:

• EMA 9, 21, 55: Also showing a bullish trend.
  
• Overall Sentiment: Bullish.
  

🔍 Key Resistance Levels:

• 4755: Long-term target
  
• 4685-4697: (current)
  

🔍 Key Support Levels:

• 4630-4635: (current)
  
• 4573 & 4580: Significant resistance-turned-support zone.
  
• 4556-4558: Indicating a choppy trading range.
  
• 4540-4542: Acting as support post-breakout.
  
• 4514 & 4497: Important back-testing zones.
  
• 4450: Immediate backtest point previous post-CPI announcement.
  

📉 Support Levels

• Major: 4668, 4635-4630, 4593-4596, 4565-4560
  
• Minor: 4661, 4655, 4647, 4642, 4617-4620, 4606, 4585, 4576, 4547, 4534, 4524, 4511-4513, 4504, 4485, 4475, 4466, 4458, 4449, 4433, 4426, 4410-4415, 4405, 4392, 4386, 4377, 4366, 4353, 4342, 4331, 4320, 4310
  

📈 Resistance Levels

• Major: 4685-4697, 4710-4713, 4723, 4734, 4743, 4753-4756, 4768, 4775, 4788, 4794, 4805-4810, 4816, 4826, 4838, 4860, 4869, 4885
  
• Minor: 4673, 4697, 4718, 4734, 4743, 4768, 4775, 4788, 4794, 4816, 4826
  

📝 Trading Plan

• Bullish Scenario: Watch key support at 4668 and 4635-4630 for potential entry points on a reclaim.
  
• Bearish Scenario: Resistance at 4685 could offer short opportunities if it fails to break, but with the trend being bullish, counter-trend trades are not preferred.
  

Disclosure: This is not financial advice and is for informational purposes only. Please consult a professional financial advisor before making any investment decision.