These are mid day charts for premium members to compare what they see to what Mack is seeing.
The volume remains a bit low again this morning, and prices are mostly sideways. Prices have been mixed and sideways throughout this trading session, and they are testing the overnight lows as I am typing this up. If those lows hold and prices turn up again, expect the range to hold for a bit unless…...
Prices are rallying this morning on lower oil prices and hopeful news that a peace deal will finally happen. The belief is that the Strait of Hormuz will finally open for real this time, and if so, wall street thinks the markets will rally strongly. We will have to wait and see what happens, but…...
While prices continued to push higher following yesterday’s rally, they have backed off of those highs, although they are trending higher again as I am putting this chart and report together. The overhead gap was filled, and the overnight lows were tested again as well, only to see prices start trending higher again. This looks…...
Once again, prices rallied overnight, only to find resistance and work lower to sideways for the remainder of the trading session thus far. The bias is mixed to sideways as I am typing this up. Prices will likely try and fill the gap and that target is down at 7267.00. If and when that is…...
It is difficult to know if prices have found a bottom for now or not. Prices have been rallying since the early morning hours of the overnight session, but there was a large gap on the chart, and prices have now rallied and filled that gap only to find resistance at the price level. If…...
Today is playing out very similar to yesterday so far. Overnight and early in the trading session, prices rallied strongly, only to later turn down. We could still get an attempt at a measured leg up, but it will probably be after the gap is filled if so. If prices continue working lower in order…...
Prices rallied during the overnight session following the large selloff we had on Friday. Friday was an ugly day, but it was overdue and needed to be perfectly honest. It is difficult to know if the down correction is over and if prices will continue higher from here, but it looks like prices have found…...
Prices are trending lower so far this morning. Note that prices traded down to the lower upsloping trendline and turned up off of that point, so maybe prices have found a bottom for now? That does not mean prices will rally today, although they could before the day is over. It may just mean that…...
Prices are rallying at the moment, but they just completed a measured move up of the original range width from the overnight session. We will have to see if that is the target to the upside for today or if the rally will continue. I do see a mild uptrend, and that channel appears to…...
The trend and bias are currently down, so stay with that as long as the downtrend channel stays in play. Note that there is a large overhead gap on the chart due to the lower 8:30 AM CST regular session opening. If prices decide they want to fill that gap at some point today, that…...