Written 8 pm Tuesday evening for Wednesday’s trading
Tuesday’s Session was Cycle Day 3 (CD3): Positive 3 Day Cycle Statistic was fulfilled as price held bid, but no further advancement following Cycle Day 2 sharp decline and recovery rally. Range was 31.25 handles on 1.092M contracts exchanged.
…Transition from Cycle Day 3 to Cycle Day 1
This leads us into Cycle Day 1 (CD1): Core cycle objectives have been fulfilled. Normal for CD1 is decline with an average measuring 3648 handle. IF price can clear 3695 – 3700 zone, THEN bulls have the opportunity to push for higher prices heading into the Christmas Holiday. As Danny Riley (Dboy) says:
“Thin To Win”. There are two estimated scenarios to consider for today’s trading.
Written 8 pm Tuesday evening for Wednesday’s trading
Tuesday’s Session was
Cycle Day 1 (CD1): Cycle Day 3’s decline fulfilled the downside range objective setting up Cycle Day 1 Low (3636.25) which was successfully tested during overnight trade. The rally which began during the Globex Session took firm control above the 3660 handle which was yesterday’s Line-In-Sand (LIS). The upside objective of 3688 – 3690 zone which was highlighted in PTG Trading Room has been fulfilled. Range was 52.25 handles on 1.218M contracts exchanged.
…
This leads us into
Cycle Day 2 (CD2): Core cycle objectives have been fulfilled. As such, with the price closing near the previous session high, momentum may take the price above 2-day high of 3690. Should this unfold, price is within striking distance of retesting all-time highs. Potential retracement within range would initially target 3675 handle. There are two estimated scenarios to consider for today’s trading.