Premium Harmonic Intraday Charts for 05/11/2017

 

When intraday levels or patterns are exceeded or invalidated or you want more detailed analysis, please refer to charts posted for the week, click here

Futures Pattern Scanner by Neoharmonics:

2017-05-11_Scanner Fut

ES_F so far has shallow retrace of brown Bfly but in meantime has formed an opposing emerging pattern so keep eye on green trendline as well as 2393 for sup, has a lot of convergence there, str8 vwap & LVN, str12 Rangemarker (RM) low & green GRZ, so sellers will want momo to b/d midpt & buyers will want a hold above there.  Ideally intraday PRZ tgts are 2403.25 then 2406.75 for upside or 2378.75 for green Bat for dnside.

2017-05-11_ES Intra 2017-05-11_NQ Intra

NQ_F initial lvls to brk & hld are above green AC trendline or below initially 5673.25 RM low but then more important 5667.5.  Upside brk has ideal tgts at 5688 or 5711.75 for the ABCD.  Dnside brk has ideal tgt 5640.5 w/ scaling pts at green lvls.

CL_F invalidated green pattern as shown on 5/10, but rather the upside move completed a Bat was watching at 47.86 region.  This is a decisive pt in that there is a larger brown Bat emerging but a b/d 47.17 implies Retrce Mode attemt w/ key tgt at 46.24, this will be another decisive pt.  Upside continuation ideal intraday tgt is 49.08 up to 50.52.

2017-05-11_CL Intra 2017-05-11_GC Intra

GC_F in between opposing emerging patterns.  This is one of those scenarios where both can play out providing the blue Bat completes first then goes into retrce mode.  Bias is currently to dnside until can initially b/o RM hi, then more important above 1222.9.

Have a question about an instrument not listed?  Just ask me.

Trading involves substantial risk and is not suitable for all investors. Past performance is not indicative of future results.