Is There Room For Upside? | Morning Express| | 03-27-23 |
Posted: March 27, 2023, 9:25 a.m.
E-mini S&P (June) / E-mini NQ (June)
S&P, yesterday’s close: Settled at 4001.25, up 23,25 on Friday and 54.25 on the week
NQ, yesterday’s close: Settled at 12,890.25, up 36.25 on Friday and 245.50 on the week
- Quad Witching was the Friday before last, E-mini S&P and E-mini NQ futures incurred heavy selling and set a low through the European open last Monday.
- Although a low was set March 13th due to banking fears, the post-Quad Witching low pressure last Monday was relevant.
- We are more Bullish in Bias after front-month E-mini NQ futures closed at new highs of the year, and both June E-mini NQ futures and the QQQ ETF set a new weekly closing high on the year.
- We will continue to hold this more Bullish Bias as long as the NQ holds a floor developed last week at major three-star support at ... Click here to get our (FULL) daily reports emailed to you!
Technicals Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
Levels Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
Crude Oil (May)
Yesterday’s close: Settled at 69.26, down 0.70 on Friday and up 2.33 on the week
- Managed Money Net-Short in Crude Oil is now at the lowest level since January 2016.
- The trade was not over-crowded relative to historical levels, but has been reduced by 45% in two weeks and down by 62% since the start of the year. This tells us there is room for buyers upon improving fundamentals.
- On Friday, our major three-star support at 66.92-67.17 held perfectly.
- Still, rare major three-star resistance overhead at ... Click here to get our (FULL) daily reports emailed to you!
Levels Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
Gold (April) / Silver (May)
Gold, yesterday’s close: Settled at 1983.8, down 12.1 on Friday and up 10.3 on the week
Silver, yesterday’s close: Settled at 23.339, up 0.083 on Friday and 0.877 on the week spikes.
Technicals Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
Levels Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
Silver (May)
Resistance:
Support:
Levels Premium
🔒 You need to be a Premium User to unlock this content. Click here to unlock.
In case you haven't already, you can sign up for a complimentary 2-week trial of our complete research packet, Blue Line Express.
Sign up for a Free Trial
Start Trading with Blue Line Futures
Don't have an account with Blue Line Futures?
Futures trading involves substantial risk of loss and may not be suitable for all investors. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
Blue Line Futures is a member of NFA and is subject to NFA’s regulatory oversight and examinations. However, you should be aware that the NFA does not have regulatory oversight authority over underlying or spot virtual currency products or transactions or virtual currency exchanges, custodians or markets. Therefore, carefully consider whether such trading is suitable for you considering your financial condition.
With Cyber-attacks on the rise, attacking firms in the healthcare, financial, energy and other state and global sectors, Blue Line Futures wants you to be safe! Blue Line Futures will never contact you via a third party application. Blue Line Futures employees use only firm authorized email addresses and phone numbers. If you are contacted by any person and want to confirm identity please reach out to us at info@bluelinefutures.com or call us at 312- 278-0500
Like this post? Share it below:
Back to Insights
In case you haven't already, you can sign up for a complimentary 2-week trial of our complete research packet, Blue Line Express.
Free Trial