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 trending lower at some point, that target is down at 6664.25.
At the moment, prices are finding resistance at the former support level of the range on the daily chart, so this would be a likely place for the rally to stall if prices cannot work through that price level and find support along that support level once again.
For now, the trend and bias are both up, but that could change at any time, so stay flexible and follow the price action wherever it may take you.
