$Alibaba (BABA.US)$ baba closed above 129 order block again ...
$Alibaba (BABA.US)$ baba closed above 129 order block again but still rejected at the 133 to 135 supply zone. But good news is it is expanding the bband upwards now in a more positive way. This shows the upward movement could come soon.
If it can break 135 supply zone tonight with good volume, this will be a real breakout to retest 138 and even 145.
Tonight CPI data will be important for the markets so sit tight and let's see how baba perform tonight!
As always trade safe and invest wise!
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SooEng : sounds like still might come back down…..if CPI numbers shock people…..which is possible in such a jittery market.
Investing 101 OP SooEng : Yes have to see tonight that's why on my ndx post I said to long on Monday and close by Wed as cpi data might turn out bad
SooEng Investing 101 OP : How do you read this Low volume day sir?
Investing 101 OP SooEng : Trend is still up. Lower volume could mean a pullback in an uptrend.
SooEng Investing 101 OP : Got a bit of “missed the boat” feeling.
Investing 101 OP SooEng : Have to monitor. This Friday have retail sales data. If we don't break 16k soon we will have problems next week