Sunday, April 11, 2010

TraderSmarts Numbers for the YM Emini Futures - Monday April 12, 2010

Support becomes resistance and vice versa…

11022, 11086 Resistance on the YM Emini Futures

10955, 10940, 10924, 10880, 10837, 10775 Supports

Trade smart and trade well!

YM: See the chart posted on the blog here and take heed of the caveat emptor.

Draw a line on your own 60 min YM chart at 10994 from the high on 3/25 like in my chart above. Then shrink chart so you can see it from then til now. That is the definition of support becomes resistance and vice versa.

CL: (We got the 87 even test - was that enough?) We got the close over the March 17th high on Wednesday March 31st and so now expecting the extension up to 87.50 from here. I am still expecting an eventual 57.50 test on CL but we must expecting the move up to 87.50 first.

6E: 1.3286 was money yet again. I first mentioned this Number in the March 2nd update.

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