Weekly Technical Analysis $TIGR $SPX $01810
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$Tiger Brokers(TIGR)$ (Requested by @zayb)
Analysis was done on 4H as 1D price action is messy. Price is on a consolidation. Price has been building both buy-side and sell-side liquidity. Current price action suggests more downside as we previously took a lower time frame sell-side liquidity and the price is unable to push and break the market structure to the upside. Subsequently, we have the buy-side liquidity taken and the price is currently trying to break the market structure lower to the downside. If we see a clear break of structure to the downside, we can see the lows of 3.68 getting targeted.
https://www.tradingview.com/chart/TIGR/AGXYeyyC-TIGR-Analysis/
Price is playing out what was analyzed last week. Price is on a downtrend. Price rallied to 3974.39 and filled the gap as expected. For now, I would expect price to continue lower. Of course, there are also probabilities that price could rally further and mitigate the bearish POI at 4073.85 before we see another drop.
https://www.tradingview.com/chart/SPX/r16gaA1G-SPX-Analysis/
Price is consolidating since last week. Price is on a downtrend. Price falls short of hitting the bullish POI at 12.16 and showed some bullish momentum. I'm still expecting price to hit the bullish POI before starting an uptrend. However, do note that there are sell-side liquidity being built up, and price could potentially take out the lows at 11.26 before going higher.
https://www.tradingview.com/chart/1810/BskfHHQN-1810-Analysis/
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Good