Normal
December support, January Crash pattern breakout, February resistance, and now March.....It's not a good sign when the last day of the month closes below Quarterly support of 5493.Personally I would have preferred upside strength into a re-test of February highs before then next extended down move from April.This could still occur as they often will support price or push price higher into contract expiry, however a breakout of the 3-week range and expectation price will push towards the extended zones within the current monthly timeframe.5432 will give traders a pretty good idea on the direction of the market in early March, with a breakout below and expectation prices will push lower.5432 is a line in the market for next week, and i'll just trade either side of that line:- above and looking for a swing upwards towards the 50% level in March (resistance)Below and it's pushing lower....
December support, January Crash pattern breakout, February resistance, and now March.....
It's not a good sign when the last day of the month closes below Quarterly support of 5493.
Personally I would have preferred upside strength into a re-test of February highs before then next extended down move from April.
This could still occur as they often will support price or push price higher into contract expiry, however a breakout of the 3-week range and expectation price will push towards the extended zones within the current monthly timeframe.
5432 will give traders a pretty good idea on the direction of the market in early March, with a breakout below and expectation prices will push lower.
5432 is a line in the market for next week, and i'll just trade either side of that line:- above and looking for a swing upwards towards the 50% level in March (resistance)
Below and it's pushing lower....
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