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Continue to watch the 76.57 key level in Crude Oil. Bears want to defend this level for a shot at running sell stops below 74s, and into expansion targets at 72.68 and 69.30. Bulls want to defend 74 for shot at squeezing bears through 76.57 and into 79.85.
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.
The ES appears poised for further strength toward 2025, while the NQ continues pushing toward 4143. CL and GC remain on a bearish path.
