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Looking at the daily chart, prices traded down and then bounced right off of the current trend line. There was an overhead gap on the regular session daily chart as well, and
While there is a mild upward bias, so far this looks to be a range type day. There is strong resistance around 5530.00, so prices will need to breach that and sustain
Prices rallied strongly just after the regular session opening but have now corrected somewhat and are trending lower. No matter how this day plays out, I would expect some mixed trading. Prices
Prices are mixed this morning, but there is also an overall downward bias as well. There is an overhead gap on the regular session chart, so prices may attempt to fill that
Prices continued to rally early on during the overnight session but turned down at some point and now appear to be working on a second measured leg down. Prices are testing the
Prices appear to be range bound at this point in time, but as we have seen lately, that can change drastically before the day is over. At the moment, prices appear to
Today is rollover day, so if you haven’t rolled over to the September contract, I would do so at some point today. So far, this appears to be a slow range type
Prices sold off during the overnight session but have turned sideways somewhat since that point in time. The overall bias still has a bit of a downward bias, but this could just
The trend and bias are both down sharply this morning. Prices have found some momentary support down around 5418.00, but we will have to see if it holds or not. For now,
The market obviously liked the CPI news this morning, as it rallied strongly off that report, and is still creeping higher as I am typing this up. Do not forget that today