Last week, the March contract high was at 1528.75, and the March contract low was at 1495.00. So holding above 1512.50 half back weekly mid is important . 1515 is another level also 61.8 retrace . If price breaks through 1520, watch for another retest at 1526. If the advance continues,I expect it will get rejected and increased volatility and strong price swings during the day.SSDD trade it . Tuesday will be an inflection day
. So if we reject the high resistence do we retest th lower supports ? Hmmmm
Ok , so Tuesday low was our inflection point as we retested lower support .Last night and at open holding above 1490 was a sign of upper range test . The hold over 1500 and test at 12:34 was another key moment yesterday . The E-Mini snapped back to rally on Wednesday and is advancing into today's key reversal day ,so before the open at 8:37AM watch reaction /levels .
Today if price remains above 1513 - 1509, there may be more initial upside. A break with below 1508-1509 is now needed to show more weakness and confirm a reversal down to lower levels once again. So if we reject the high resistence do we retest the lower supports ? Today will be interesting .
Yes , we retested upper resistance levels . It was rejectected and we tested 149 .86 and it failed to hold . Hmmm SSDD . I expect an inflection point on Tuesday and watch overnight futures for reversal.