Market Analysis for Jan 13th, 2021

Ricky Wen By

Do some homework on ZM and keep a close eye on it

This one is a little more complicated/weak compared to many free bonuses I've shared as it's trending below some key moving averages meaning that short-term has been weak. See if the complexion changes with the recent 2 day upside move.

This week's low area could be the potential low/strong demand for many weeks if a more pronounced bottoming patttern builds out on the lower timeframes such as daily chart.

 $480-500 comes to mind. (roughly 61.8% fib retracement of the entire drop 588->330s)  Know your timeframes!
ZM JAN13_WEEKLY
ZM JAN13_WEEKLY
ZM JAN13_daily
ZM JAN13_daily
Ricky Wen is an analyst at ElliottWaveTrader.net, where he writes a nightly market column and hosts the ES Trade Alerts premium subscription service.

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