Monday, June 29, 2015
#PreMarket Thoughts and #CL_F Levels for Monday, June 29, 2015
Last week CLQ5 was
unable to get and hold above the first key resistance at 62s and now looks to be heading to the 56.45 target mentioned last week.
First resistance for today is at 59.55-59.65 zone then at 59.95-60.15 zone; until above these
levels/areas CLQ5 will have better
chance to retest 58.60-58.30 zone
then also have potential to reach 57.60
and lower.
Ethan Premock
Futures & Options Strategist
Hamzei Analytics, LLC
#PreMarket Thoughts and #ES_F Levels for Monday, June 29, 2015
For three years straight there have been many
overnight gap downs to only be fully recovered sometime within the next trading
session the following day, and after three years today is going to be very
interesting to see if the US stock market can or will again have such a
recovery after last night’s (Sunday) opening gap down following the headlines
out of Greece over the weekend.
After the cash open today I will have an eye on two
ESU5 areas which are 2060s/59s and the key threshold at 2086s-2098s zone; however before being able to
reach 2086s and above ESU5 must first also get through the
low volume area (LVA) just above 2080s.
If ESU5
is unable to get above 2080s the
bulls will then need to defend 2060s/59s
otherwise the odds will increase to not have the usual full recovery post a OVN
gap down and if so the next lower targets will be at 2049s-2042s zone then a must defend by the bulls at 2026s/25s.
Ethan Premock
Hamzei Analytics, LLC
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