Note: The S/R levels (i.e. likely bank trader order levels) as depicted in their respective timeframes in this and prior articles have not changed, and will probably NEVER change regardless what happens in financial markets. What follows is my own world view, developed from an institutional trading career dating back to 1995.

The week starts on a quiet note as some institutional traders may take an extra day off for the US Veterans Day bank holiday. The only marquee events for the week look like the US CPI numbers, Fed Chairman Powell’s testimonials mid-week, and any on-going developments coming out of the US-China trade talks.

The following are our S/R levels as a new week begins.