I am expecting more movement from Wednesday to Friday due to Powell speaking. Staying open minded to what may happen as we have been consolidating and getting tighter in range.
BULLS: 15264 as we hit this area multiple times, it is the double top of Jan/March 2022, and we can't seem to break over it now. We have a 3HR supply and 15M supply to break through. If we can get through this area, looking for a push to 15475 6/16 highs to retest by EOW or by next week.
BEARS: 14910 is the next 1HR S1 pivot target that I would like to see hit first. This would retrace some of the bull move from 6/12 and seems like a solid retracement. If we can break through this level, 14780-14800 looks like a solid 4HR demand area and where we consolidated before the big break to the upside. This seems like a promising bounce area.
These targets may seem out of reach if based on a slow volume week, but with news speeches, we may get the momentum to move 300-500 pts this week (.5-1% a day).
Link to chart: www.tradingview...chart/5XGqlTVf/?symbol=CME...
BULLS: 15264 as we hit this area multiple times, it is the double top of Jan/March 2022, and we can't seem to break over it now. We have a 3HR supply and 15M supply to break through. If we can get through this area, looking for a push to 15475 6/16 highs to retest by EOW or by next week.
BEARS: 14910 is the next 1HR S1 pivot target that I would like to see hit first. This would retrace some of the bull move from 6/12 and seems like a solid retracement. If we can break through this level, 14780-14800 looks like a solid 4HR demand area and where we consolidated before the big break to the upside. This seems like a promising bounce area.
These targets may seem out of reach if based on a slow volume week, but with news speeches, we may get the momentum to move 300-500 pts this week (.5-1% a day).
Link to chart: www.tradingview...chart/5XGqlTVf/?symbol=CME...
