Prices are trending lower and look to still be trading inside the tight congestion area on the daily chart. The bias is down to somewhat mixed, but that does not mean we will not see some quick rallies with strong momentum at times. Some of the strongest moves up come when the market is selling […]
Prices are up this morning, but mostly sideways since the 8:30 AM CST opening. I would call the bias sideways to mildly up, but if they cannot push higher at some point, then will probably turn lower and test the overnight lows. There is a large gap on the chart too, so prices may attempt
We had two perfect measured legs down so far this morning and prices are trying to bounce now. This could end up as a range type day, but if prices turn down again, we could see more selling. For now, the overall bias is still mildly downward, but note that could be changing, so follow
The trend and bias are both down so far this morning. I see a two-tiered channel working lower that is still in play, so stay with that until the chart shows us differently. Note that we did make a new high on the retest of the highs on the daily chart yesterday, so this long-term
Prices are rallying this morning so far. There was a large overhead gap on the chart, and prices appear to be working to fill that gap. Once that happens, prices could go in either direction or even sideways. For now, the trend and bias are up though, so stay with that until the chart shows
Prices continue to rally today. I see two separate channels working upwards so far. I still think the market will retest the former highs with a new high at a minimum. Things could turn and change before the day is over, as there is a gap on the chart. If prices start trending lower to
Happy New Year everyone! I hope everyone had a wonderful holiday season and I look forward to getting back to our regular schedule now. Note that I will be doing my normal thing today and tomorrow, but unfortunately, I will be out Wednesday through Friday again this week. As most of you probably already know,
We are getting some follow through buying so far this morning. The question is can we sustain the buying today or will prices back off and trend lower before the day is over. Wednesday looks like a possible capitulation day to the downside, but we need to see some continued follow through buying to confirm
Maybe yesterday was a capitulation day, as prices are rallying strongly this morning. As we have seen lately, things can change on a dime, so do not get lulled to sleep and have the market turn on you. Obviously, you should stay with the trend as long as it remains in play, but do not
Prices opened higher at the 8:30 AM CST regular session opening but quickly turned lower in an attempt to fill the lower gap on the chart. Prices have filled that gap, and there was some attempt to bounce from that price level at 6848.00, but the bounce failed and prices are now trending lower again.