Looks like price could retest the 1068 level today, with 1072 and 1077.50 as target if the buyers stay committed.  To the low side price could see a test back to 1060 and then 1054 support, with 1043.50 as an extreme low.  This is where we will be looking for decision on the direction for the next move.   Let’s see who takes it.

Overnight prices moved to test the 1037.50 area of support, while finding support price has turned and is moving back to test the 1046 area of resistance.   Today’s price action could see price test the 1048 area of support with 1050 and 1054 to follow with the buys controlling the day.  To the low side we could see price retest out 1037 area of support and with some volume perhaps move through to test 1020.25 and even 1011 area with good seller volume. 

With Friday’s trading see just about every level possible for the day, the buyers came in aggressively after 10am and took prices from 1037.00 support  back up to 1066 area before close.   Today’s range could tighten with support in at 1060 and 1054.  With a push of volume we could see 1049 area of resistance again.  To the high side we could see price fight with resistance on the 1065 area and with a breakthrough resistance there price could move to retest 1072 and perhaps 1077.50.

Prices moved back up through overnight trading to test the 1055 level.   Yesterday saw some lighter volume and still closed down, on the 1044 support.  With another drop in volume today’s trading could see a possible retest of the 1060 levels, possibly even 1065.50 with an extreme high in at 1071.50.   To the low side we could see price move back into the 1044 levels, and with a end of week sell off and some commitment price could see a retest into the 1036.50 area again.  If the sellers have what it takes to push price through the 1036.75 area of support, I have 1020.00 as the next area of suooprt in the move down.   Let’s see who shows up today.  See you at the starting line!

After hours trading saw prices move quite a bit, moving all the way down to touch the 1037 area and then retracing back  up through the early hours of the morning to trade back to resistance in the 1061 area.  A 28 point range for overnight trading is a larger range than I’m used to seeing overnight.  Yesterday’s trading volume was about par with Tuesday’s (about 2.5M) and saw a test to the downside, with the daily closing in a hammer. 

Price could see a retracement today to the 1061, or 1066 levels, with 1072 as an extreme high target.  To the downside we could see 1049.00, 1044, and possibly a retest to the 1036 provided the sellers move in and are motivated.  I’ll see you at the starting line!

Another move to the downside last night, price moved from the 1049.75 close to test the 1041 area.  With some commitment price could move to the 1036.50, with 1019.75 next in line.  Should support hold price could see a retest of the 1049.50 area, then 1056 and 1059.50.  Still watching volume as a good way to decide on who takes it, increased volume yesterday saw prices move to the downside.  Let’s see what today brings.

Price took a move to the downside during the after hours last night, trading as low as 1051.50.   Watching for price to find some support in the 1049.50 area, and then the 1036.50 area.  Should prices move back to the upside we could see a retesting of the 1061 area and then 1065.75 after.  Depends on the volume, yesterday’s move down was on a low volume (1.6M contracts)  move which is not charictaristic for down days.  Guess it is time to see what they will bring.  I’ll see you at the starting line!

Expect to see some resistance in the 1077 area today.  Friday’s trading took us to 1061 support and now through the Sunday evening and Monday premarket we find prices testing the 1077 resistance .  Overnight high is 1077.25 and low is 69.  Support wiil be in at 1061 again if price moves back down.  We will have to see where it goes.  See you at the starting line!

Prices moved down through yesterday’s 1068 support through overnight trading,  prices found support at 1063.75 and are now working on a retracement of the last push down.  Watching for prices today to touch to the 1060.50 area of support before making decision on where to go next.  It all seems to depend on volume, high volume – push through support and move on to the 1050 level,  low volume – retrace  and retest the 1068, 1077 levels.  As we all know there is but one way to find out what will happen.

I’ll see you at the starting line!