Balanced day Tuesday with overlapping to mostly higher value. Price traded to a tick above the prior day’s high at 2501.25, leaving a poor high in the profile. The low at 2492.25 is questionably weak as it was just a single tick below the prior day session’s half back level and two ticks below the overnight session low. A poor high and weak low suggest day time frame and short term traders were in control. Both levels have good odds of being revisited in a future trading session.

If price opens within this range, early references are the CME settle at 2495.50 and the 10 TPO wide point of control at 2497.25. A breakout from either side of the balance could have better odds of continuation if price first trades back to or near the wide point of control.

Potential trade scenarios could also see a look above or below the balance and fail, targeting the opposite end, or remain in balance (probably the lesser odds).

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