Nvidia 10-17 November

9 Nov 2023

As we saw the range movement between the two key levels continued (around 400 and 470$) but as I saw now the apocalyptic posts continued here. No, we will not see 325$ soon, if the Q3 is ok, and if we see at all. However, we are on the upside key level now and should be careful next week. We are also close to US10Y key support level. Thus, my advise is to watch carefully the economical data and fundamental news next week. A possible down and short is very likely, however, also do not forget the earning report on 21th, thus, I significant movements are not so likely before that. Only if we see very bad data a real deep correction is possible which was predicted by many here but not so deep. On the other hand if the Q3 data is good again we can expect to continue the long movement and forget about the 400$ level. Trade smart. Good luck!