Well - this month won't be missed.
Still in the range, still poor volume. Yesterday was pretty much an inside day. My upside bias still stands as we have hit the bottom of the range and not the top. Still, the range can fail any time.
Very uneven distribution this week - the lower distribution at 2168 is worth keeping an eye on but otherwise, I don't get much from the weekly profile
We had a pullback to 2176.25 which was also value area and the top of Globex. That looks like a strong level and if we can hold it and push down from it, I think we could get some decent participation to the downside.
Plan
- bias is for continuation up towards this weeks high 2187
- Looking to join decent downside participation if 2176 holds with a potential break of the range if it does
- 2168 a hurdle to the downide
- if we push through the range high take continuation trades only on exceptional volume
- otherwise look to play to the other side of value.
- looking for early trades as there is a high chance of choppy action later on
- on the lookout for intraday high volume nodes to trade around, especially if volume is in the same range as yesterday
Weekly Numbers
Range 2164.50 –> 2172.25
Value 2171.75 -> 2181.25
S1 – 2153.50, R1 – 2187.50
Daily Numbers
Range 2168.50 -> 2181.50
Value 2170.75 -> 2176.25
Globex 2172.50 -> 2176.25
Settlement – 2175.25
Range Levels – 2143.50-2177.75, 2165.50->2190.75
Today only - 2168, 2176
Key Levels: 2110.75 ,2096, 2090.75, 2012.75, 1957.50, 1910.75, 1824.50, 1795.50
Plan
- bias is for continuation up towards this weeks high 2187
- Looking to join decent downside participation if 2176 holds with a potential break of the range if it does
- 2168 a hurdle to the downide
- if we push through the range high take continuation trades only on exceptional volume
- otherwise look to play to the other side of value.
- looking for early trades as there is a high chance of choppy action later on
- on the lookout for intraday high volume nodes to trade around, especially if volume is in the same range as yesterday
Weekly Numbers
Range 2164.50 –> 2172.25
Value 2171.75 -> 2181.25
S1 – 2153.50, R1 – 2187.50
Daily Numbers
Range 2168.50 -> 2181.50
Value 2170.75 -> 2176.25
Globex 2172.50 -> 2176.25
Settlement – 2175.25
Range Levels – 2143.50-2177.75, 2165.50->2190.75
Today only - 2168, 2176
Key Levels: 2110.75 ,2096, 2090.75, 2012.75, 1957.50, 1910.75, 1824.50, 1795.50
