Morning Traders,
Alright US market closed down a little and was mostly flat-ish with lower volume. All eyes will be directed to the FOMC and the ECB later this week and also with a host of other numbers.
We seem to have broken out of the consolidation area but we have to see if there are any follow through there.
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Alright we had a late rally in the cash market yesterday to close at 32.35. I want to see if the buying in the cash market is still there or not. I have established a few longer terms longs in August contract and will monitor it closely.
Price have not been able to break below 15 yet so that is a good sign. Lets see if this is just a pull back from the highs and whether we can go back to test the highs again.
Here are your levels for today:
FKLI
Upper Resistance: 1630, 33, 36, 38, 40
Lower Support: 1626, 22, 20, 18, 15
Cash Index: 1633, 36, 38, 40
Lower Support: 1626, 23, 20, 18
Ok trade safe all.
Best Wishes,
Tech Trader
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