- The MKT will need to spark some excitement today if it is to avoid falling back into a digestive trade.
- On the Sell side REVERSAL strategies off the UP, UT1 or UT2 will work best as any unsustained positive signal is expected to provide a sharp negative reaction. FADE strategies off the UP are valid but will work better after the 2nd or 3rd press into an area. BREAKOUT strategies below the DP are a lower probability and should be used as a signal for a FADE strategy against the DIR.
- On the Buy side FADE and REVERSAL strategies are recommended off the DP, especially if the previous session low point remains intact. BREAKOUT strategies should hold structure after a resistance breach if they are going to follow through. Any break in momentum and the market will be vulnerable to a drop back into a digestive trade.
Today's PRICE MAP Performance for CL
Wrap Up
Today in the CRUDE OIL futures market, the MC Value of +3 produced a NEUTRAL POSITIVE EXTREME Market State. If the market is going to avoid falling back into a DIGESTIVE posture, it should just "go" and not look back after trading above the R LEVEL at the UP. Below this level, the market is prone to a digestive session. As highlighted in out market commentary, BUY DP FADE and REVERSALS are recommended. The market put in an intra-day double bottom formation at our minor level 95.94 while the RSI showed underlying strength as it put in a HIGHER low on the 2nd bottom. This was our "tell" to accept the BUY DP REVERSAL strategy targeting the DIR.
Today in the CRUDE OIL futures market, the MC Value of +3 produced a NEUTRAL POSITIVE EXTREME Market State. If the market is going to avoid falling back into a DIGESTIVE posture, it should just "go" and not look back after trading above the R LEVEL at the UP. Below this level, the market is prone to a digestive session. As highlighted in out market commentary, BUY DP FADE and REVERSALS are recommended. The market put in an intra-day double bottom formation at our minor level 95.94 while the RSI showed underlying strength as it put in a HIGHER low on the 2nd bottom. This was our "tell" to accept the BUY DP REVERSAL strategy targeting the DIR.
