Earlier in the week I mentioned 48.90 being a key level for CLU5
in order to have chance for higher or not. 48.90
was breached but CLU5 is now
currently trading back below which means CLU5
is also back below last week’s value
area (VA).
CLU5 must now
first regain 48.25-48.45 zone then 49.10 otherwise there is still potential
to continue lower to 45s/44s and
possibly 42s as well especially once/if
below 46.80.
Ethan Premock
Futures & Options Strategist
Hamzei Analytics, LLC
Hamzei Analytics, LLC