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Obviously yesterday was not a top, as prices have surged higher again this morning. I see a spike and channel higher that is still in play as I am writing this up.
Today has the feel of topping action, as prices have rallied for 5 consecutive days reaching a new high in this move just after the regular session opening this morning, only to
The rally has continued today, and prices are trading above the resistance of the range on the daily chart as well. For now, the trend and bias are up, although we could
This has the look and feel of a range day so far. Prices have met stiff resistance around 4365.00, which happens to be the top of the range on the daily chart.
The reversal followed through this morning and prices are trending higher. Prices pushed through both the mid-line and the EMA on the daily chart and did so strongly. We might still be
The trend and bias are up this morning, and prices may be attempting a measured move higher. If the cyan channel is valid, it would seem a bit difficult to reach a
So far today has the look and feel of a range type day. The daily chart also hints of prices still stuck in a sideways range as well. If the usual pattern
The trend and bias are down so far, but until prices test the lows of the overnight, this could still be a range type day. For now, stick with the down trend
Rollover to the June contract starts today, but do not roll today. Normally the volume will not roll until Friday, and rarely, it might even be on Monday’s, so we will not