Good showing on Wed; Support off last area of balance as well as bollinger band!
Wed price action
- Strong bounce off bollinger band and also area of balance from Jan 2023
- Re-took MA5
- Gaps from past days filled! ==> Good!
- Does show to have a bull demand coming in between 380 to 384 (bears does not push beyond this levels for now)
Thurs price action projection
- Options expiry show market makers like a closing on 17 Mar (Quadwitching) between 390 and 400
- Likely to start above MA5 (388) and find support off MA5.
- Price action likely to straddle between trading range of 388 and 393
- If it does break MA200, it will find strong resistance MA20 at 395
- Somewhat bullish Thurs so expect my sold puts on Wed to ripen abit more
Looking forward
- Thurs has jobless claims
- Next Wed has FOMC
- Market unlikely to make major moves until FOMC on 22nd Mar, so prices will likely stay between MA5, MA200 and MA20 (so 388 to 395)
Good luck, all!
@TigerStars @CaptainTiger @Deposit @LMSunshine @melson
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Yday was a wild day.. did a total of 14 trades on Dow and got myself 721usd..
Nive support balanve nive one