Support becomes resistance and vice versa...
11022, 11055, 11086 Resistance on the YM Emini Futures
10984, 10958, 10925, 10880, 10861, 10837
Trade smart and trade well!
YM: Tuesday played off the two Key Numbers perfectly. First selling 1 tick shy of they key 10962 straight down to the lower key number at 10894 followed by a 90 pt bounce. The intraday V Bottoms continue. Wednesday I am expecting a move up to 11022 minimum. Over 10984 and holding and the squeeze is on yet again.
See the chart posted on the blog here and take heed of the caveat emptor:
From Tuesday YM: 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. Will be in play Tuesday. Need to snap that and then CLOSE under 10775 for selling to commence. 10962 is Key to new highs.
CL: Oil Inventories at 7:30 PST (We got the 87 even test - was that close enough to 87.5?) 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 expect 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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