We were lulled into thinking that the volume was going to remain in CLF3 until today, but not only did volume move deftly into CLG3, it came in like a Cat5 hurricane. We saw impatient volumes ride along the rally and RSI is now looking a bit better. We are going to continue this upswing and look for more holiday cheer.
The target resistance is now 9033, 9118 and 9226. What comes before there is inconsequential. We have a goal and until then we’re going to hold support at 8774, 8692 and 8555. The front spread also move along and we now look for resistance at –48 with support to –59. Flat price shows the love ad continues higher through the day.
Trends are only for the affected:
All together now. We are putting on a show for the trend followers here and the only thing with the 10min chart is the redraw of resistance. We see pivot now in the 8900 area and moving. Above there the channel resistance hits the 8950 area.
The support line trails higher with 8940 the current level. The 60min chart is the prettiest picture. We have a solid move here with pivot right in the 8870 area. Higher looks at resistance near the 8980 level and support has room back to the trend line at 8775.
Techies, some Trekkies
- 200 Day MA 9252
- 100 Day MA 9064
- 13 Day MA 8707
- 8 Day MA 867
- 14 Day RSI 54.88
- Now we’re into 2013
- Key support: -59, -66, -72
- Key Rests: -48, -42, -39
It’s hard to keep a good RB down. We see resistance pushing 27200, 27355 and off to 24778. Support numbers fall back to 27055, 26868 and 26743. The front spread looks up to resistance at +78, but then challenges the +100 area again. Above there +112. Support comes to +60, +50, +38. The RBCL moves to G3. We get resistance here at 2469, 2511. Support looks to 2449, 2365.
Distillate:
HOF3 moving on up. A bit gappy so we’re cautious, and support can return to 30130, 29972 and 29807. The upside is spatial with resistance at 30335, 30513 and 30668. The front spread holds resistance with +50 and +62. A move lower will return to find support numbers down to +32, +21 and +06. The HOCL also moves along with CLG3. Resistance taps 3816, 3880, 3912. Support holds 3738, 3681.