Long

Market overview

WHAT HAPPENED?

Last week we reached a significant sell area. At the moment, there were strong volume anomalies from the seller. Our main scenario was a correction. But by the middle of the week, after a prolonged flat, the seller began to weaken noticeably. Attempts to update the local minimum didn’t bring results. The scenario was rearranged in the direction of long-range movement.

WHAT WILL HAPPEN: OR NOT?

We’ve already updated the local maximum on an increased volume.
The main priority is long. After updating the $88,800 extreme, the road to $95,000 will be opened. At the same time, the price of $87,000 will act as a support level for a decline. At the moment, strong buyer activity is recorded on it.

Sell Zones:

$95,000–$96,700 (accumulated volume),

$97,500–$98,400 (initiative volume pushing upward),

$107,000–$109,000 (volume anomalies).

Buy Zones:

$85,500–$84,000 (accumulated volume),

$82,700–$81,400 (high-volume area),

Level at $74,800,

$69,000–$60,600 (accumulated volume).

IMPORTANT DATES

The macroeconomic events this week:
• Wednesday, April 23, 13:45 (UTC) — publication of business activity indices in the US manufacturing and services sectors for April;
• Wednesday, April 23, 14:00 (UTC) — publication of data on new home sales in the United States for March;
• Thursday, April 24, 12:30 (UTC) — publication of the number of initial applications for unemployment benefits in the United States;
• Thursday, April 24, 14:00 (UTC) — publication of sales in the secondary housing market in the United States for March.

*This post is not a financial recommendation. Make decisions based on your own experience.

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