Here’s the key levels we’re seeing here at Futurestechs over the last 24 hours.
The S&P saw a dip to 7079.25 yesterday where dip buyers did what they do. This did leave a “Bearish Outside Day” on the chart but I’m not sure the bulls will be too worried! NASDAQ Futures made another new ATH yesterday at 27156, followed by selling down to 26682 where buyers stepped in. The DAX and Eurostoxx 50 both posted Doji More candles. The FTSE saw further weakness but held Fibonacci support at 10328.
Bund Futures tried to rally yesterday but found sellers at 125.71 which was Wednesday’s VPOCVolume Point of Control – The price where the most volume ... More, so Market Profile doing a job for us in that one.
EURUSD saw red for the third day in a row, down to 1.1669, retesting the 200-day SMA.
Metals were offered pretty much across the complex (Bar Nickel, which is still rallying). Silver is back below 75.00 as I write. LME Copper continues to struggle to see off Fibonacci resistance at 13445.
Brent Crude saw green again yesterday for the third day in a row, getting up to 107.40, so is gunning for 112.12 now, this being the high on the June chart.
TTF has followed Tuesday’s “Bullish Engulfing Pattern More” with further gains but we’re still erring on the bear side, thinking this is a mere retracement.
EUA Carbon traders will be watching where we close tonight with respect to the 74.74 level we’ve been watching of late.
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These Levels are also mentioned daily on the PiQ ‘Morning Blast’ Podcast, hosted by Ryan Paisey at 8:30AM GMT. Find it wherever you get your podcasts.
Clive Lambert FSTA – FuturesTechs
25 years of institutional expertise in the UK and European Energy Markets and 10-time Technical Analysis award winner. Clive provides industry-standard technical outlook, utilising Market Profile and Candlesticks Analysis for over 100 global trading desks.
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