US Debt ceiling votes are in tomorrow, Wednesday 5/31.
Although the agreement is not what both parties want to the T, I have a feeling they will agree on the vote because it is for the greater good. If they do not agree, we are headed into default which will hurt the economy tremendously. We cannot afford to have that happen right now because of bank system failures, inflation, and other news events that are impactful. Needless to say, I think we see a spike in longs to end the month green.
BULLS: 14661-667 to 14612
BEARS: 14299 to 14089
I am following per pivot points and my S/D areas. We have reasons to be on both sides as I see we are partially balanced even tho we had heavy bull power lately. Bulls can continue up due to good news and no true resistance to the upside. Bears can take over for a retracement and liquidity zones.
Link to chart: www.tradingview...chart/5XGqlTVf/?symbol=CME...
Although the agreement is not what both parties want to the T, I have a feeling they will agree on the vote because it is for the greater good. If they do not agree, we are headed into default which will hurt the economy tremendously. We cannot afford to have that happen right now because of bank system failures, inflation, and other news events that are impactful. Needless to say, I think we see a spike in longs to end the month green.
BULLS: 14661-667 to 14612
BEARS: 14299 to 14089
I am following per pivot points and my S/D areas. We have reasons to be on both sides as I see we are partially balanced even tho we had heavy bull power lately. Bulls can continue up due to good news and no true resistance to the upside. Bears can take over for a retracement and liquidity zones.
Link to chart: www.tradingview...chart/5XGqlTVf/?symbol=CME...
