Support becomes resistance and vice versa...
10464, 10498, 10515, 10544, 10560, 10566 Resistance on the YM Emini Futures
10440, 10411, 10377, 10333, 10283, 10215 Supports
Trade smart and trade well!
In the 1/24/10 daily chart update I said: "I do not expect the YM to get back over 10566. I will be targeting 10309 - 10430 for swing shorts." The high FTU was 10434 and then we sold nicely down to a low of 10172 Thursday. I have been saying that while I still don't expect it back above 10566 I think the range is probably a little higher to look for swing shorts.
YM: Getting the third higher high this morning mentioned in Thursday's update and hit the lower part of my 10470 - 10560 range for CIT. This range IMO is it. Swing traders be ready - area for getting swing shorts has arrived. NFP this morning - BE READY.
From Thursday YM: Expecting a move to the higher area 10470 - 10560 I have been wanting. Swing Traders pay attention here. 12 pts shy of 10470 Wednesday and selling. ES did hit my key 1124.5 though. Anticipating one more higher high and then that is IT - Goodnight sweet horse.
From Thursday CL: Still expecting CIT in the 79.7 - 82.7 range. Hit the midpoint of this range Wednesday. A close over the midpoint and expecting the higher end of this range to be tested.
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