Crude Oil bulls are defending the bottom of the 7-day trading range between 50.50 and 51.00, with targets at 52.23 and 53.50. Failure to hold above 50.50 opens up a move into 49, which will likely be defended upon first test by responsive bulls.
The ES is approaching the top of resistance between 2120 to 2126, while the NQ has far surpassed its 4550 resistance level. Look for bulls to defend pullbacks in the short term. Crude Oil is holding at the bottom of the 8-day trading range, which offers a responsive buying opportunity. Failure to hold above 50.50 has clear air to 49.
ES bears are currently defending the 2119 key level for a return to the previous week’s close price of 2097.75. Bulls want to defend support at 2111 for a move into 2125 and 2130.
ES bulls are looking to defend the 2115 key level for a shot at 2123.75 and 2128.25. Bears are currently keeping 5-day VPOC and yCL offered between 2120.50 and 2121 for a shot at running stops through 2115 and into 2108.75 and 2102.
[NOTE: Audio Starts at the 23:48 mark] Frank Ochoa (AKA PivotBoss) provides his market outlook for April 2015 for the futures market, including the E-Mini S&P 500, E-Mini NASDAQ 100, Crude Oil, and Gold! April could be a big month for the ES and NQ.
