Friday, April 7, 2017

@AnneMarieTrades Morning Comments for #ES_F, #NQ_F & #CL_F for Apr 7, 2017

@AnneMarieTrades Morning Comments for #ES_F, #NQ_F & #CL_F for Apr 7, 2017SocialTwist Tell-a-Friend

CONSIDERATIONS FOR Apr 7, 2017  as emailed to Members at 0813 ET

ES_F– With NFP on deck, just about anything can happen short term – the question is always after the fact – is there significant weight for continuation on either level?  My suspicion is no based on general intraday momentum readings at this time.  With a good number, we could also dip as FOMC warnings of an overheated market roiled the space a few days ago.  If you are not experienced (that means novice or bad experience- evidenced by a chart of your daily balance over time), it is best to wait for the dust to settle before engaging.  The support level near 2349 remains extremely important
·         Buying pressure will likely strengthen above a positive retest of 2359.75 (but more resistance is ahead nearby)
·         Selling pressure will likely strengthen with a failed retest of 2339
·         Resistance sits near 2359.75 to 2363.5, with 2369.5 and 2376.25 above that
·         Support holds between 2339 and 2334.5, with 2323.5 and 2317.5 below that




***NASDAQ Futures***
Momentum drifted lower yesterday as the NQ_F presented the lower high as expected.  Overnight, we broke the low but quickly recovered and is also moving around congestion levels near 5420 .  Candles are likely to hold long wicks today as well, as spikes in either direction may not hold.  We have lower momentum, so rejections of higher levels could provide excellent shorts for the intraday trader.  New support levels to watch are in the 5370 region.  Use caution trading at the edges today.
·         Buying pressure will likely strengthen with a positive retest of 5446 (use caution as sellers sit up here-wait for a retest)
·         Selling pressure will likely strengthen with a failed retest of 5406
·         Resistance sits near 5456 to 5462.75, with 5477.25 and 5489.5 above that
·         Support holds between 5388.5 and 5380.5, with 5377.5 and 5347.5 below that


***Oil –WTI Crude***
A big pop in oil took us to the edge of our resistance levels noted, and indeed, breached before rejecting.  If the chart holds and/or recovers 52.17, we will press further into 53.19.  Support holds below at 51.2, but we could see some big action depending on the weight of markets.  Buyers are battling at a new higher low near 52.17, and a fade there should give us the retest of 51.7.  Momentum is high.  Rig count is out this afternoon.
·         Buying pressure will likely strengthen with a positive retest of 52.7
·         Selling pressure will strengthen with a failed retest of 51.2
·         Resistance sits near 52.7 to 53.2, with 53.76 and 54.38 above that.
·         Support holds between 51.2 and 50.77, with 50.47 and 50.06 below that.


We are extremely honored & proud to announce that Anne-Marie Baiynd has joined Team Hamzei Analytics
 as Chief OTF Strategist.
 






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