We are still happily trading the range - I have the range at 61-79.50 but it's more art than science - so around those areas.
Settlement on Friday was 1 whole tick away from Thursday settlement. So this is all pure intraday speculation in my opinion.
I think the value area is a bit misleading, most of the action was from 67-75 last week.
We hit the top of the range early on, then reversed down from there and after that was chop.
Going in to today - we hit the top of the range overnight, so we might not see a test into the day session
- Look for an early trade
- Join any moves to the downside as the range high has been tested
- Look for fades outside of the bulk of last weeks action 67.25 -> 75.50. Obviously that's within the overall range and it would be better if we could probe outside 61-79.50 but we couldn't get there last week so....
- No trades in the middle - unless off overnight high/low or one of yesterdays levels
Range - 2463.25 -> 2477.50
Value - 2469.25 -> 2474.75
Range - 2467.25 / 2469.25 -> 2477.75
Value - 2471.75 -> 2474.25
Globex - 2472 ->2477.50
Settlement – 2472
Long Term Levels - 2178.75, 2129.50, 2099.75, 2084, 2078.75, 2000.75, 2400