These are mid day charts for premium members to compare what they see to what Mack is seeing.
While prices are rallying higher as I am typing this up, this feels more like a range type day. It is possible prices have found a bottom, but until that is proven out on the chart, I am going to say this will likely end as a range day. There is a large overhead gap…...
Prices trended higher during the overnight session and into the regular session this morning but have turned down now. There was a gap on the chart at the regular session opening, but prices have traded lower and filled that gap now. Prices are now trending lower in a steep spike and channel. This could end…...
Prices are ranging again so far this morning. At the moment, prices have just bounced off of the lows of the range and are moving higher as I am typing. Respect the range support and resistance until the chart shows us otherwise. We won’t know if prices can push higher until we see how prices…...
Prices are in a small range at the moment with light volume. Note that there will be an FOMC announcement at 1 PM CST today, so be flat before that news and do not take any new trades after 12 Noon CST. After Noon, I would wait until after the news is released and prices…...
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…...