There’s a whole lot of haters out there and we just keep sliding down the chart. The RSI is fetching weaker numbers every day, but has yet to get to oversold. We think that another flush here today is going to be the make-it-or-break-it for the Bears. If we fall through the support at 9000, we’ll focus on much lower to 8966 and 8842. The upside can bounce here and continue, but we’ll need momentum to carry us up and over the resistance numbers at 9196, 9278 and 9355. The front spread awaits roll next week and we get a push back to –46/-47 as pressure starts to come. Flat price gets down early and we play the rest of the day back up to flat.
Trends Only For The Affected
No surprises on any of the charts here, the pictures are all painted down. The 10-minute chart starts with a support line in the 9080 area. We can see a pivot casing lower in the 9130 area and channel resistance at 9170. The target for reversal will be in the up and above 9230. The 60-minute chart has performed quite well in this downtrend. We have played well off resistance, which comes at 9230. We have pivot in the 9100 area and trend support at 8990.
Techies, Some Trekkies
- 200-Day MA 9038
- 100-Day MA 9086
- 13-Day MA 9434
- 8-Day MA 9276
- 14-Day RSI 32.65
- Switching heat to gas
- Key support: -53, -58, -64
- Key Rests: -47, -42, -35