Based on the MNQ chart, the market appears poised for a bearish continuation, with a potential move toward 20,305 by January 20th. Using ICT concepts, the price has recently filled a significant portion of the Daily Fair Value Gap (FVG) between 21,127.50 and 21,742.50, indicating that inefficiencies have been mitigated. This is often a precursor to further movement toward deeper liquidity pools. Below the current price action, there is evident sell-side liquidity around 20,947.75. Furthermore, below recent lows and the displacement to the downside signal institutional bearish intent, with price aggressively seeking lower levels. The level at 20,305 is a logical target, as it represents a deeper liquidity pool and possibly unmitigated levels from prior sessions. The current bearish momentum and redistribution phase suggest that this downward move is part of a larger institutional narrative, making a test of 20,305 likely before January 20th, provided no major bullish catalysts disrupt this progression.
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