S/R Levels - April 22nd - 26th
Support / Resistance levels for the fourth week of April. 20+ securities included in this report: US indexes, All the Magnificent 7, Commodities, Futures, Silver, DAX, STOXX and more.
On March 24th, in the middle of the euphoria, I published a special analysis of overextensions, including 7 cases during the last 60 years, a trifecta of indicators was found as the best way to anticipate a pullback; 2024 was not the difference.
The same three indicators rhymed as in the past, what is important now is what is coming? Good news for you, the analysis includes one year ahead of the pullback, there are no reasons to expect something different, check it out:
The S/R levels are intended to give you an edge on your trading, for next week price will find support and resistance zones in ranges defined in the following lines.
A breakout or breakdown of a line should be considered a flip in its position, a support flips to resistance and a resistance breached becomes a support.
Use them in your charts, if you trade AMZN, TSLA or NVDA, search the levels for each one, same if you trade Bitcoin, ES or NQ futures. There are more than 20 securities analyzed, and after three weeks of testing this, this information has proven to be useful.
S/R Levels for the week and the Month of April: