Support becomes resistance and vice versa…
10309, 10356, 10398 Resistance on the YM Emini Futures
10252, 10210, 10175, 10120, 10035 Supports
10266 is huge and has been big resistance.
Trade smart and trade well!
CL: Have nearly a full position now (7/8) filled. Oil acting stronger than anticipated though the way it closed over 77 Tuesday. Need a close on the daily under 76.60 in the next two days and not a close over the previous high at 78.04. If CL can't get back under 76.60 and hold then anticipating a move up to 79.70 - 82.70. CL and YM look identical over the last few weeks - left shoulder and head of a potential inv h&s forming. If YM moves up to the area mentioned in the 1/24/2010 blog post for swing short then odds are CL goes to the 79.70 - 82.70 area. Either way expecting an eventual 57.50 test on CL. Let's see what the next couple of days bring.
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