Friday, July 8, 2016
Thursday, July 7, 2016
Wednesday, July 6, 2016
Wednesday, July 6, 2016 #PreMarket Comments by Michael Blythe
Good morning. Interesting price action overnight and and a busy calendar today should give the ESU6 ample trading opportunit. On a larger frame, I am becoming less inclined to be in dip buying mode as a bias, and just trade as an opportunist this week.
Prices to the downside start with 2069.00 (*) which is an important early risk marker, followed by the 2067.00 (*) Globex low area. I want to be short beneath the 2067.00 level and look for 2063 (**) as a minimum target and then 2057 (***) as a last line of defense for bulls before price action could turn ugly.
To the upside, 2075 (*) should offer some fair initial resistance followed by 2080 (***) which will be vital for bears to defend or bulls to break. Next is 2084 (**) and if bears lose this then I expect for 2100 to trade again.
All the best;
Michael Blythe
Futures Strategist
Hamzei Analytics, LLC
