NQ: Upcoming weekly analysis!FA Analysis:
1- Last week macro economic data came +/- inline which did not help to resolve the UNCERYTAINTY.
2- Trump tariffs flip plop confirmed the uncertainty.
3- This week, we have Job Jolts, CPI. PPI and Consumer confidence; they're all key data to resolve the uncertainty. Inline data won't help; we need an overshoot or undershoot.
So until data news, price will continue in the consolidation and accumulation.
TA Analysis:
Weekly TF:
We got a clear bearish close with a somewhat large wick. With the uncertainty context until Tuesday and Wednesday, price might move up to retest 20627. as shown in the chart.
Daily TF:
From daily perspective, we got a bullish close after price was rejected at Weekly support.
Hence, I see price moving up toward 20529-20627.
The chart shows the uncertainty via Extensions (represented by E in the chart).
Price was unable to close below 20529 for 6 days creating extensions but no break. This tells you the battle between buyers and sellers to break or reject that level. All were fueled by inline data and tariffs flip plop.
As a conclusion, I think the break down is not a question of IF but WHEN.
Happy green week Everyone!
