5:15 AM ET
Who is it grappling for?
Cycle lows are due on 3 and 5 day cycles. True Strength Index oscillator is bottomy. Others are in neutral turf. If ES pullback holds at or above 3714, PM upmove should be explosive as the hedge fund junior traders are forced to cover shorts.
Conversely, a break of 3714 would target 3703.
The 5 day cycle projection is 3710. 2-3 day cycle projection 3713.
Happy New Year!
6:30 AM ET –
30 minute bars show the rebound from support. Nearing a breakout with indicators on the buy side.
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