
Thursday’s buying started from exactly at the lower end of Wednesday’s upper distribution at 2012, and following crude oil’s rally, continued buying throughout the day off off exact price levels. This can signify short term participants who are more apt to panic when price goes against them. Thursday’s structure left multiple anomalies along with two single prints. It also left a poor high (just one tick of excess) at 2036.75. It wouldn’t be surprising to see the market take out the high, then return into the previous range to revisit the prior buying areas.
Subscribe:
