NQ1! Supply and Demand Levels 8/18/23
Link to Chart: tradingview.com/chart/5XGqlTVf/?symbol=CME_MINI:NQ1!
Ending the week bearish. Michael Burry secured a solid gain from his Put contracts haha!
Looking at the chart from higher timeframes, you can see we are possibly reaching levels of support soon. However, I anticipate if we have bad news to come we can easily break through support as we had done this past week. Previous strong levels of demand did not hold and we saw a flush through the 1hr downtrend line.
14260-14340 zone looks interesting for a strong bounce play, but not looking for any specific targets at this time.
Just wanted to share what my chart looks like at this time of post. Hope you are doing well!
Ending the week bearish. Michael Burry secured a solid gain from his Put contracts haha!
Looking at the chart from higher timeframes, you can see we are possibly reaching levels of support soon. However, I anticipate if we have bad news to come we can easily break through support as we had done this past week. Previous strong levels of demand did not hold and we saw a flush through the 1hr downtrend line.
14260-14340 zone looks interesting for a strong bounce play, but not looking for any specific targets at this time.
Just wanted to share what my chart looks like at this time of post. Hope you are doing well!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.