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| Martys PIT Session Levels |
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| Martys PIT Session Notes |
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| Crude Oil 60-Minute |
Crude Oil is
trading inside a narrow trading-range this morning as it ‘grinds’ higher this
week. We can see major resistance zones
above us on the 60-minute anchor chart, along with a trend line as support below
us. This price-action is most likely going
to result in 2-sided trading, so we will be looking to buy-the-lows at support and
sell-the-high at resistance with a bias to the buy-side considering the bullish
market sentiment we’ve seen in the markets this week.
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| Crude Oil 5-Minute |
We can see a
very narrow range in the London trading Session and the 5-minute chart shows us
the reversal-zone below the range has recently been tested, which means we are
bullish in the short term, and we will wait to see what the 8:30am EST news comes
out as before we know more.
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| Crude Oil Daily |
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| Crude Oil 240-Minute |
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| Dollar Index 60-Minute |
The Dollar-Index
is clearly moving higher this week, inside a bullish price-channel and we have
a little more room to go before we test the resistance trend line overhead on
the 60-Minute chart. This leaves room
for some higher prices this morning as we go into the opening bell on Thursday.
The Dollar-Index
is trading at the highs of the overnight range, suggesting a minor pullback is
coming before we try to make new higher-highs this morning.
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