Oil keeps pushing to the up side and has a nice possible bullish formation, so will be watching a break to the red zone for direction from here. a move back into yesterdays pricing should see a fast move to 60. A trade is there based on the red zone break.
last night and yesterday are in a very small range and for sure is looking like consolidation before further move up. red zone is important break out zone and is a very small range for back and forth. I would like to see a break of the zone and then retest the zone boundary for entry.
Overnight is completely long action and could have a pull back to about 3182, as a nice spot to start looking for long side to take back over. The next idea is no pull back and a impulsive move on bell, and if this happens then will be getting long on small flag type replacements. As of this typing the overnight keeps pushing higher so there is not a strong red...
oil has been moving up and working in a smaller balance near the current price highs, I will be looking for long trades as long as red zone bottom holds. A few top side short term targets are marked off screen above. If red bottom breaks then would expect we go back to prior distribution around 59
Overnight long has been re balanced a bit lower and also has closed the gap, only in the after hours session. All thing point to a run for 3200 but that may not be today, but I think good chance it is. I will be looking for a impulse move to jump on board, either direction. the down side retrace back into prior range is second idea and very possible also.
Oil had that breakout of the range as I expected was coming soon and now the important level is if we hang out above this prior level top or move back down inside the prior range. This is the area we are testing as of this writing and is also the level I will be looking to trade long off of. It is a good level due to the defined risk reward levels.
Other than widening out the red zone everything is the same as yesterday other than how I will look for trades. I will be looking for trend or impulses inside the consolidation, it is wide enough now for follow through now.
Everything I said yesterday still applies today so look at link below
Today the idea is clear so I can publish early. ES is trading inside yesterday and is consolidation looking for its next direction (powell maybe) so will be looking for inside trades until the red zone breaks. There is not a lot more that needs to be said.
Oil is trading inside yesterday and is in a tight consolidation. I will be looking for a decent sized move out of this range and today oil report could be the trigger. My plan is simple watch the red zone for a break and trade small and inside until the break happens.
Over night Es has moved loser and formed a nice balance, so my primary action plan is a open that moves back up to red zone top and then looks to trade lower and then goes sideways around the bottom of the red zone, in the event red bottom break should be a fast move to 3108. Plan B is a break of the red zone top and a move back tot eh 3145 distribution. If this...
Oil is trading in about a 1 point range and this can be a good back and forth day trade, and if oil does not break the red zone then back and forth is my game plan. Will watch action at red top and bottom and will look for failure at each side for a reversing entry.
Overnight has been in a lower balanced zone and small range so will be looking for the break of the red zone for our first clue of direction, A nice impulse move on this break would be very good. I do have a 3170 top side target for any move over ATH. any move lower will have us most likely stall out in the lower distribution above 3114
oil has been drifting down and I think we will see a pop back up and if this is right will watch the 58.85 area for rejection if we keep going up then the point the bulls take back over is 59.30 and this I thinks takes us to 59.90. The second idea is the open is a drop of the small test to 58.85 and then we make a move to 57.80. so will be watching to see if...
After employment report we got a very strong move so here is my thinking. Above 3138 we go to 3144 minimum, and below 3127 we spend the day chopping in that distribution. This could be a great impulse to play off of so will be leaning long on almost every dip.
oil is inside a upper distribution and looks very comfortable, we will need a drop below 57.4 to be called bearish by me. and a move over 59.12 I will call very bullish. I will be looking for a range bound day if we remain inside this consolidation.
over night action started balanced inside yesterday then made a little gaping move higher so a retrace to 3114 and then continuing up is one decent idea. I do see 3117 as a import support between 2 distributions. If we break above 3125 I can see us heading for the blue box target area. So today becomes a day the bull get to decide if the day session ATH is going...
Oil is presenting bullish, and today's oil report should be very interesting, will be taking oil easy thinking little will happen prior to report. I see 58.50 as a very important level today and will remain bullish above that level.