A gap down open is more likely on account of the no vote win in the Italian referendum.
However, this was priced-in, so we could see a quick recovery. Currency markets have already recovered from the early Asian shake up.
The previous two daily candles have long talks…which suggest dip demand.
Overall, ‘Santa Rally’ could begin from this week in case the 7000 level remains intact today. Buyers could come-in above 6745 (23.6% Fib) levels.
On the downside, we need at least two daily closes below head and shoulder neckline support.
However, this was priced-in, so we could see a quick recovery. Currency markets have already recovered from the early Asian shake up.
The previous two daily candles have long talks…which suggest dip demand.
Overall, ‘Santa Rally’ could begin from this week in case the 7000 level remains intact today. Buyers could come-in above 6745 (23.6% Fib) levels.
On the downside, we need at least two daily closes below head and shoulder neckline support.
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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.
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.