Tuesday, December 13, 2016
Tuesday, December 13, 2016 Morning Crude Comments from MB
Seems like crude gave bulls a gift yesterday giving them an opportunity to buy in regular session. Now bulls need to make higher lows and higher highs. I like fading the resistance zone, starting small at $53.70 adding small at $53.80 and $53.90. Risking .25 on ave to make .75 on ave. I like buying $52.60 small, risking .20 to make .50.
$54.50 (***) Target 3
$54.20 (*) Target 2
$53.90 (**) Top of Resist Zone
$53.80 (*) First Higher Target
$53.70 (*) Resistance Zone Begins
$53.45 (*) Early Pivot
$53.00 (*) First Lower Target
$52.60 (*) Second Lower TGT + Some Support
$52.15 (**) TGT 3 + Better Support
$51.80 (*) TGT 4
$51.50 (***) TGT 5 + Pivotal Support
All the best;
Michael Blythe
Futures Strategist
Hamzei Analytics, LLC
Tuesday, December 13, 2016 Morning Bond Comments from MB
Hello. Light calendar today. Quiet, buy the dip action in the 30 year overnight. Looking at yesterday’s rally and some overnight follow through, I think bonds could continue to see higher into the FOMC decision.
I am willing to buy lower with smaller size. 148’23 and adding at 148’16. Risking 12 ticks on the ave to scale at 16 and 24 tick profits. I like selling the 149’22 price small, adding small at 149’28 and 150’02 (if necessary) risking 10 ticks on the ave to make 24 ticks.
150’02 (***) Target 3 + Good Resist
149’28 (*) Target 2 + Still in Resist Zone
149’22 (***) First Higher Target + Good Resist
149’09 Price as of this writing (just a reference)
148’23 (**) Early Pivot – Bias Long Above + Short Below
148’16 (*) First Lower Target + Some Support
148’08 (*) Lower TGT 2 + Some Support
147’26 (*) Target 3
All the best;
Michael Blythe
Futures Strategist
Hamzei Analytics, LLC
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