the 91.10 bulls defended the zone on two occasions, twice trapping late sellers below the previous session’s close price in order to fuel moves higher. The first move went for a quick 1 point, which took all of just 30 minutes to complete, and the second move went for over 2 points. In essence, our pre-market playbook highlight 3 points worth of moves for the bulls alone.
The 91.10 bulls defended the zone on two occasions, twice trapping late sellers below the previous session’s close price in order to fuel moves higher. The first move went for a quick 1 point, which took all of just 30 minutes to complete, and the second move went for over 2 points. In essence, our pre-market playbook highlight 3 points worth of moves for the bulls alone.
We nailed Crude Oil today! We had 91.10 to 91.20 pegged as support for bulls, and we had 92s pegged as resistance for bears…and when the stops came out, the bulls got fed! Here’s the outlook, plus a review of the the pre-market playbook.
Crude Oil continues to trade within a coiling range, which has a backend measurement of nearly 6 points. Once expansion from this range occurs, we could see a 5-6 point in the direction of the break.
The ES and NQ have both pulled back toward the lower end of their respective ranges, which means another swing buying opportunity could be around the corner.
