CLU5 mainly
traded sideways yesterday and with index futures already having a big move in
the overnight/premarket session CLU5
may be the better one to trade today over equity indexes; unless trapped index Longs use this morning's rally to sell. If CLU5 does have good movement today I will expect
either an upside move (with legs) above yesterday’s first resistance at 46.65 or a move (with legs) below today’s
first support at 45.70.
If above 46.65 the
first upside target is at 47.30-47.40
zone or if below 45.70 the first lower target is at 45.00 then 44s.
Ethan Premock
Futures & Options Strategist
Hamzei Analytics, LLC
Hamzei Analytics, LLC