Prices rallied during the overnight session but have started trending lower since just after the regular session opening. There is a large gap on the chart, and if prices attempt to fill that gap, that target would be down at 6663.50. Note that prices are very oversold, so a correction is likely, but be ready […]
The trend and bias are down so far this morning. Prices found resistance at the former support line on the daily chart and have turn down from there. No real surprise with that, but that does not mean prices will not attempt another push through that support/resistance line over the next few trading days. Likewise,
Prices rallied during the overnight session but have been mostly sideways to very mildly up since that point. There was an overhead gap on the chart, but prices filled that gap and have now turned higher again. There is resistance around the 6650.00 – 6660.00 price level, so prices will need to work through that
Before we get to the chart lesson this morning, I thought I might mention that NinjaTrader is now offering people a chance to purchase a multi-broker license again. I’m not sure when they started doing this, but it has to be a recent move. If you have ever wanted to use NinjaTrader but also use
Prices are sideways and mixed after trending higher during the overnight session. There is another lower gap on the chart again this morning, and if prices attempt to fill that gap, that target is down at 6567.50. There is a very timid and mild upward bias for now due to the overnight trend up, but
Prices are rallying mildly this morning, but with things so oversold, that is not a complete surprise. The key will be if the rally can continue. My guess is this is just a pause before prices turn lower again, but we will have to wait for more price action to form to be certain. There
Prices finally rallied some during the overnight session but turned down immediately after the regular session opening around 8:30 AM CST. Maybe prices are only trying to fill the lower gap that was left by the higher open, but it would also not surprise me if prices do not continue lower working towards a measured
The downtrend continues this morning. Prices are once again severely oversold and appear headed to test the next support level on the daily chart that I spoke about yesterday, and that price level is down around 6400.00 – 6425.00 level. I would be surprised if we do not test that support at this point, just
So far this looks like we could see another range day. Prices are trending higher off of the overnight lows as I am typing this up, and there is an overhead gap on the chart as well, and that target is very near the overnight highs. Prices could fill the gap and test the highs
Prices continue to attempt to rally but each time the rally is met with strong selling. So far this morning I see another range type day. Prices have relieved some of the oversold conditions but are still trading between the two lower bands on the daily chart, indicating a continued need for some kind of