Prices opened lower again this morning, thus leaving an overhead gap on the chart. It looks to be mostly sideways so far, and prices appear to be trying to rally to fill the gap at a minimum. Prices are still very oversold, so a rally is not out of the question, but it is also […]
Prices rallied an incredible 250 points in early morning overnight trading in an impressive move higher. This is what I talked about in a previous mid-morning chart update. You can see massive rallies like this in bear markets, so you need to be aware of them and what can quickly happen if you are not
Prices are continuing lower again this morning, and that has left another overhead gap on the chart. While the trend and bias are down for now, prices may attempt to fill that gap at some point, so keep that in mind. Prices are very oversold at the moment, so a correction could come at any
Prices continue to push lower, and although they have rallied some off of the lows, prices are still struggling to push higher. There is still a lot of mixed trading at times too, so expect that to continue. There is an overhead gap on the chart, and prices appear to be making an attempt to
Today is an FOMC rate announcement day, so remember to be flat by 12 Noon CST today, as you do not want to get stuck in a trade prior to this news coming out today at 1 PM CST. This market is already super nervous and spooked, so any small catalyst could send it strongly
Prices continued to rally during the overnight session and into the regular session opening this morning, but the rally left another overhead gap on the chart. Prices are correcting some as I am typing this up, so prices may attempt to fill that gap at some point. Respect the larger two-tiered channel that is working
Note that today is rollover day, so I have rolled over to the June contract. The market is rallying this morning after being oversold for the last few trading sessions. There is a large gap on today’s chart, so prices could attempt to fill that lower gap at some point today. If prices should start
Prices rallied some during the overnight and again after the early Economic news, but that rally was short lived. There is a lower gap on the chart due to the early rally, and prices appear to be working lower to fill that gap at a minimum. Where prices will go from there is anyone’s guess,
Prices continue to push lower with a lot of mixed trading scattered in as well. I do see two measured legs down so far this morning, and prices are once again well into the oversold region of the Envelope Bands, so a correction could come at any time. Trade what you see, just be careful
So far today appears to be more of the same. Prices are mostly mixed and range bound, and they are testing the lows of the range on the daily chart again. So far, those lows are still holding, but prices cannot seem to sustain any rally off of those lows so far, so prices could