Actionreaction
SandP 500 E-Mini Futures 60 CME Updated 2/10/2017Price has made new highs after retesting 2284 as suport. Look for price to come down to 2300 area and act as support and go higher to next median line. Price has formed a symmetrical swing ABCD pattern, so look for possible pullback here. Also near the 78.6% retracement to 127% extension.
SandP 500 E-Mini Futures 240 CME Updated 2/6/2017Price is trying to push higher above the middle median line, but we also have resistance right above at 2300 area. Look to see if we can break resistance, or if price will drop out of the fork to the downside. We have to break 2300 to continue in this bull trend. It looks like price may be running out of energy, but watch the next couple days.
CL - Crude: Give context to see tiny bitsCrude is really worth nothing at this time.
Bouncing up and down at free will...at lest it looks like.
But if we give it a little context, then we can see behind the curtain a little more.
The big picture (whole chart) shows the GAP, a strong up moving market within a huge down swing since 2015.
Mid term (fork) we see price respecting the centerline of the fork and it's trading at the upper extreme U-MLH since 2016/12
Short term, there is clearly something pushing price up, holding it at the slope of the parallel (grey).
And we also see, that the GAP from the big picture comes nearer and nearer.
Price is very pressed to the upside - no way to let it fall down.
This is how it "feels" to me, when combining the different timeframes.
A potential short term trade for me would be, if price climbes up the parallels centerline up to the GAP.
Will it happen?
We find out soon...
Hunt mode on.
P!