Market Note for Monday November 12 – $CL_F $ES_F $GC_F

30 min ES – note the rising support from Friday’s low….Still feels heavy
5 min ES

Consolidation day. Market may be waiting for a catalyst as volume today was very much below average. Currently the S&P 500 is down 4.75 points or 0.34 percent to 1373.50 after failing to hold support at 1375.

Below 1373.75 means 1370 with could convert into last week lows of 1363.50 before finding any sort of persistent bid.

1 min GC_F

 Precious and semi precious metals are weak again this early evening, copper down half a percent as is gold after failing 1725 support with 1712 acting as the next level of congestion if 1720 fails.

 Copper on the other hand 3.40 remains support.

1 hour HG_F – *notice the pattern within the downtrending channel 
30 min GC_F

Crude oil fell through 85.40 support which was pretty much in line with the rest of the complex de-risking the last hour or so.

85.27 is the floor session low for front month CL, thus watch for a push of sell stops below this area perhaps into 84.55.


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