Tuesday Prep

We did get a move higher into the 81.00-83.75 zone yesterday after opening just above the prior high. There was a lack of upward momentum and volume to support the rally, which eventually fell back to close the settlement gap. 

Overnight so far has drifted lower to test the 57.00-58.75 zone, with the range currently 2658.50-72.25. We have extra geopolitical risk with Trump's update on the Iran deal - WTI crude is currently down about $1 at $69.80 with record long positioning in the contract. 

If the market can hold above the 57.00-58.50 support zone we could see an attempt to retest yesterday's high, though I'd expect the 69.50-72.50 zone to be the first major hurdle for buyers. If we see 57.00 break and hold below, a move lower into the next two zones is possible depending on weakness. 2647.00 is the month's VPOC so would be looking for a reaction there. 

Zones of interest for today are below: