Stocks under pressure? Is this for real? There is a channel break which occurred yesterday but this market has been so resilient I won't be shocked to see bulls come in to hold this up. Def potential for momentum to increase to downside when price starts falling but we're certainly not at that point yet. 2316 cash ...
More sideways congestion within a tight range all week (53.71-52.67). Would love to see a breakout in either direction forcing stops to get hit, which would in turn provide nice entries for a decent trade maybe. Key levels post stop runs, if they happen, 54.05/52.20
Currently on a 90pt upwave w/o a decent retrace. It can certainly continue. Resistance zones have served as targets, less so "resistance" as any such area gets taken out. At this point, the higher we go, the more potential energy exists for any turn lower to catch steam. But all the steam right now is going higher.
More sideways action as price stays stuck in the monthly range (54.25-51.75). Stuck in the middle of this range, waiting for a breakout of this triangle. Extremes should stay intact...until they don't.
Maybe not much left on this downmove. Two bounces off the lower range line of the channel with a possible reversal yesterday. Looking for a buying opp possibly. If any lower, 123-20 could be the sweet spot. Def not aggressive on the sell side today.
Currently in no man's land, in the middle of the 1-month price range. EIA report today can bring some fun. Looking to fade any move to either of the Gold lines. Daily levels to watch: 54.15 & 51.85. Overall looks sideways.
Skating on some thin ice here. Finding support 3 times now along this uptrend line but also still cruising along the downward channel. Currently flat, but I can see the channel continuing as prices travel lower. Daily support at 1215.
Uptrend continues. Janet speaking later might provide some volatility as she should discuss rate hikes. Any sell offs will likely be buying opps. Seems overdue for a 10-15pt break. Maybe today can be the day.
54.30-51.70 is now the monthly range as price tries to figure out which way it wants to breakout to. Playing the extremes would be the more lucrative trade instead of playing the middle and trying to guess unless there's a signal given.