Prices appear to be range bound again today. As I am typing, prices are mildly working lower. It appears prices will attempt to fill the lower gap at a minimum, and that target is down at 6036.00. How prices move from there will give us a better idea of how this day might go. As
A reminder that today is an FOMC rate announcement day, so make sure you are flat before 1 PM CST, and not enter any new trades after 12:00 Noon CST and wait for things to return to normal before attempting to trade again. Do not take this suggestion lightly, as trading during an FOMC announcement
While prices are in a mild uptrend at the moment, this still looks and feels like a range type day again. For now, I would call this a range with an upward bias. That bias could change multiple times during the day if this remains a range day. Respect the overnight highs and lows until
Note that today is roll over day, but I have not rolled yet. I will roll later today or tomorrow as the volume is still about equal in both charts. You can trade either chart, but I like to remain with the current chart until the volume starts to slow a bit first. You generally
Prices sold off strongly during the overnight session, probably related to the Israel and Iran war talk. Prices eventually rallied and took some of the selloff back, but they have turned down again for now. There is an overhead gap on the chart, and if prices attempt to fill that gap, that target is up
Another early range with prices trending higher at the moment. Prices are testing the highs as I am typing this up, so respect those price levels until the price action proves they will no longer hold as resistance. The same with the lows if prices turn down and work towards testing support. For now, I
Prices look range like again today. Prices are trending higher as I am typing up this report, but how prices respond at the overnight highs will determine what comes next. Respect both the overnight highs and lows until the price action proves those price levels are no longer holding. For now, I will call this
Prices are mixed and sideways in a tight range this morning. The volume and volatility remain rather low as well. Expect mixed trading and be careful trading the tight stuff, as you can get trapped and stuck in that type of price action. Hopefully things start moving soon.
So far this looks to be another low volume range day. Obviously, that could change as the day progresses, but for now, this appears to be mixed sideways trading. The bias might be mildly up, but nothing more. Respect the overnight highs and lows until the price action shows us otherwise.
I am posting this a bit early this morning because I have a doctor’s appointment as well. Rather than not post one, I am just posting it early for you. Prices are rallying strongly this morning. This is a very clear spike and channel up, so respect the two-tiered bull channel until the price action