Review & Plan - Tuesday
Review
The progression since the beginning of May can be seen below with the custom balance areas.
The day session profiles below show value higher yesterday with an unfinished looking high and a key short term bull/bear zone at 2099/00 where the pullback low was made just above Friday's VPOC.
Yesterday's support/resistance zones on the day session 1 minute chart below
Overnight
Continuation higher with Europe and crude back above $50. Range currently 2106.50-2116.25
Plan
Above the micro bull/bear at 99/00 I have a bullish bias and looking for pullbacks to get long as long as we don't see very negative internals and high volume. Initial upside target at 2120.25 if yesterday's high holds as support.
Below 99/00 I would expect the look for shorts to target the zones shown below. 79.75/82.75 remains a major bull/bear zone which could spark a more serious long liquidation if broken.