Princetontrader Futures Trading Education Charts of The Day January 17, 2017
Yesterday’s extended Globex session was as advertised. Pretty non-existent. The Bears broke below the weekly pivot at 2265.50 overnight and traded as low as the 2257/58 area. That area was defended and we are now seeing a test of weekly pivot from underneath. The Bulls want to take back weekly pivot and continue their weeks long quest to sustain a trade above 2270. The Bears want to establish that weekly pivot is resistance and make a run a last week’s low 2247/48. Should neither side be successful then we will continue to compress in a decent sized range.