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
ES_F retraced green Bat to ideal min tgt 2344.25, this being initial lvl to hold abv/below. Ideally looking for hold above 2356 for upside bias or below 2336,5 for dnside bias to noted tgts.
NQ_F testing important resist at 5399.5, above there increases probability of completing emerging Shark at 5432.75 w/ scaling pt 5413.75. A s long as price can hold below 5399.5, the STRg8 emerging Bat is still in play, this completion at 5384.5 will help the pb tgt of 5379.75 occur.
CL_F June contract has same analysis but different lvls, price is stuck inside green GRZ, so where can brk & hold beyond 53.32 or 52.79 is key for noted directional tgts. There’s some convergence at top of GRZ so will need some oomph to hold above there, otherwise there’s dbl PRZ between 52.45 & 52.18 calling price to it, increasing in that scenario below GRZ. Potential bounce to 53.25 if Retrce Mode of STR8 Bat.
GC_F has dnside calling for major convergence at 1278.5, but keep in mind that STRg8 chart is in upside Retrce Mode after completing a bullish Crab, ideal min tgt at 1287.5, tis correlates w/ top of teal GRZ so that will be very important resist test. It’s a matter of where can price brk & hold beyond this GRZ for increased probability if noted tgts.
CLH5 Contract (May)
CL_F stuck inside green GRZ, so where can brk & hold beyond 52.89 or 52.36 is key for noted directional tgts. There’s some convergence at top of GRZ so will need some oomph to hold above there, otherwise there’s dbl PRZ between 52.34 & 51.75 calling price to it, increasing in that scenario below GRZ.
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.