2.27.23 Review : Globex pushed us back inside Previous Daily Support at 4012-3990 and we pretty much spent the day inside it with a look above and come back in, look below and end of day break but we still closed inside it.
2.28.23 Prep : Is 4012-3990 our Daily Resistance now or will we be able to stay inside it and push back out? We have Supply over 4030-25 and over 4012-08 now and still showing buyers under our Daily Support and the question today is are we going to stay in this Daily Support balance another day or are we going to make a move out of balance. Currently we are in our 4025-3976 range but it seems like value has shifted lower with Fridays move and its very possible to test Fridays low and maybe area under it at some point but for now we are Above T2 range and inside Previous Days Range, for a move lower we will want to see a move under 3994-90 and a break of 76-71 to get Inside T2 range and Under Previous Day low to give us more pressure for continuation towards lower Support targets. If we do hold 3994-90 today we can see a move towards 4012-08 and 4030-25 those are the Key Resistance areas to watch if we make a move there for continuation or reversal. We do have some data at 10am which may give us that move out of balance we are looking for and if not we trade within our current balance.
Levels to Watch
Resistance : Key Daily 4030-4012 Key Intraday 4030-25 // 4012-08
Support : Next Daily 3930-3890 Key Daily 3990-3976 Key Intraday 3994-90 // 3976-71
2.28.23 Prep : Is 4012-3990 our Daily Resistance now or will we be able to stay inside it and push back out? We have Supply over 4030-25 and over 4012-08 now and still showing buyers under our Daily Support and the question today is are we going to stay in this Daily Support balance another day or are we going to make a move out of balance. Currently we are in our 4025-3976 range but it seems like value has shifted lower with Fridays move and its very possible to test Fridays low and maybe area under it at some point but for now we are Above T2 range and inside Previous Days Range, for a move lower we will want to see a move under 3994-90 and a break of 76-71 to get Inside T2 range and Under Previous Day low to give us more pressure for continuation towards lower Support targets. If we do hold 3994-90 today we can see a move towards 4012-08 and 4030-25 those are the Key Resistance areas to watch if we make a move there for continuation or reversal. We do have some data at 10am which may give us that move out of balance we are looking for and if not we trade within our current balance.
Levels to Watch
Resistance : Key Daily 4030-4012 Key Intraday 4030-25 // 4012-08
Support : Next Daily 3930-3890 Key Daily 3990-3976 Key Intraday 3994-90 // 3976-71
Comment:
94-90 Broke, lets see if we can get continuation towards 76-71 and see what we do there.
Comment:
Looks like Key Daily Support is holding, watching if we make a move back out of 3990, can target higher resistance areas
Comment:
Failure here could bring another test of 76-71 and we will see if we have more supply behind us this time
Comment:
Failed to get back over 3994-90/ Failed to get back inside Previous Daily Support. Lets see if 76-71 cracks this time around, if so we can see continuation to our lower target