Support becomes resistance and vice versa...
10622, 10650, 10688 Resistance on the YM Emini Futures
10588, 10566, 10622, 10475, 10437, 10389 Supports
Trade smart and trade well!
Recent:
Potential for a 10625 test today in the YM. Rejected at 10620 Monday pre market and then at 1 tick over my 10622 number Monday near the close. Ability to close over 10625 is what I am watching.
CL - TraderSmarts Numbers sent to subscribers. My 82.80 initial target of this move up was hit on Wednesday 1/6/2010. Looking at the 84.40 - 82.80 area for a potential CIT on the daily chart. A high of 83.95 on Monday and then selling back through the 82.80 number.
Background:
It is worth noting that we broke down (Thanksgiving Dubai news) from the exact 10468 level I mentioned on 10/25/09. See the last paragraph in this post: http://tradersmarts.blogspot.com/2009/11/updated-look-at-daily-chart-of-ym-emini.html
We are now back inside the key range of 10313 - 10625. As I have been saying the thing I am keying on now is what area is taken out first and held below or above. Downside at 10313 or upside at 10625. This will be a telling clue IMO as to probability of CIT.
Closing over 10625 and I sit up and take notice.
See the latest look at the daily chart:
1/1/2010 An Updated Look at the Daily Chart of the YM
No comments:
Post a Comment