It was interesting time for Technical levels in the price action of Henry Hub today. The price was ‘well-behaved’ based off our Market Profile levels here at Futurestechs. Here’s what happened.
After gapping lower from Friday’s close, this produced a new resistance level of 3.208 (the low of Friday’s trade). As long as the price stays below this level, we can’t expect much from the Bulls!
In terms of Market Profile, the VPOCVolume Point of Control – The price where the most volume ... More for Monday’s session was 3.130. This became one of our Support Levels on the SkewBar on this morning’s report.
Here’s what we said in the report:
Still above as gap resistance as yesterday’s high was 3.195. Weakness was seen back to 3.097 matching last Tuesday’s low/bounce.
3.130 was yesterday’s VPOCVolume Point of Control – The price where the most volume ... More; holding so far overnight which might give the bulls some cheer.
We then got up to and failed at gap resistance at 3.207.
Range of the day as we write: 3.130-3.207. Report below was sent out at 7.30am.
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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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