BULLRUN? OR PULLBACK? | TECHNICAL ANALYSIS OF THE MARKET | 17-21 JULY 23 #shorts #stockmarket
0"Hello, traders!
After an eventful week, we have a relatively calm week ahead with no significant events, except for retail sales on Tuesday and jobless claims on Thursday.
Both NQ and ES experienced remarkable jumps as all major data points aligned with market expectations.
Turning our attention to NQ, we witnessed a breakthrough above the significant resistance level of 15482. It is possible that NQ may retreat and test this previous resistance as support once again. However, keep an eye out for a potential retest of the 16000 level.
Similarly, for ES, a retest of 4485 appears highly likely. Nonetheless, it could also maintain its bullish momentum and strive toward retesting 4625.
the recent downward movement of the dollar has been remarkably strong, breaching the 100 mark. With the market's current strength, we might witness the dollar retesting levels around 99 or even 98.5.
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