Thursday, April 26, 2012

Thursday mid morning market musings

  1 min ES .. 
A mixed open has resulted in a mixed cash session with the ES hanging onto the 1388 level with 1385 being support and 1282 the lower support level.. below we could see 1378 easily.. above 1388 1390-95 in store..

The euro is perking up a bit after the currency made a 3 week high against the dollar in early morning hours.. because of this we saw crude oil spike to near 105.. which was my target from last night in the trade for forum.. come by, it is free.

Gold and silver are bid as well... copper strength overnight was possibly due to strength in the Asian exchanges.. if anything you coud have used this information to formulate a future opinion on the the US commodity session.

30 min CL - notice the 105 level... if taken out........ 105.50 
.. support 104.2-50