Overnight Market Summary For Tuesday April 2, 2013 | $SPXY
|15 min ES.|
|30 min DX…|
|15 min CL|
My take on the ES tonight, if 1560 fails we move back to 1555, under 55 = 50, under = 45.. A break back over 1566 means we could easily trade back to 1568; fading record high prints as wear near all time highs will become increasingly gambling like. I think a break under 1560 would provide a great scalp short opportunity for 5 points to the downside. 1570 still the upside target over 68’s.
As for Crude…. 96.55 held as support which is 90 cents below the intra day high of 97.44, the week high is 97.80 from Sunday’s gap. A break over 97.50 means we test 97.80 on into 98. A break under 96.55 = 95.90.
Notice the 1,2,3,4 on the chart above.. those are highlighted identical patterns each day since last wednesday in CL,, a pattern of of a morning break down into session lows which are bought up into the afternoon to make session highs then fade.. it has repeated 4 times now.
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