Jul 142010

Not much going on this morning.  Price crashed through our 89/91.25 level which turned from support into resistance.  The first push back into 89.50 (yesterday’s close) had a lot of selling which could have been played for a short if you are an aggressive trader.  Order flow was mixed as price rotated underneath and finally price fell near the 84.25 level where it bounced back into the morning cluster below the 89.50.  Now there are no clean levels to short until 94.50 or play a long until back down into 84.50.  As I write this, I see price has moved up to 92.75 so maybe it can get above 94.50 for a short play.  We’re not too excited about the 94.50 level so our trading is over for the day.

 Posted by at 11:32 am

Sorry, the comment form is closed at this time.