Thursday Prep

Yesterday opened and failed to take out the overnight high, leaving a poor high early on. Back inside the prior range saw prices slip back to around the prior mid, value area low and composite low volume area before selling dried up. A break above the lunchtime balance area squeezed shorts and the OPEC news on production cuts led to an oil driven rally back into last friday's range. 

The short term bullish move is heading back up towards the all time highs, though there are a few areas of longer term resistance ahead within the larger balance area currently in.

2157-59 area is the first area of key support for longs to hold. Acceptance below there could see some long liquidation and rotation lower to the 2152.50 chvn and current week's vpoc. 

Breaking and holding above the 2166-67 resistance would continue to pressure shorts. The 2166 clvn may become support on a pullback from a break. 

Zones for today: