Here you will find the most recent trade levels released today in the Market Dimensions Advisory. This update is showcasing an MDA SnapShot levels with potential buy and sell zones for you to consider executing on the day. If you would like to further discuss these trades do not hesitate to contact me directly. If you are not getting these updates sent to your inbox each morning, please subscribe HERE. To see all MDA updates (morning & intra-day levels, trade recaps, educational material) visit my blog page HERE.
Published 3/28/16 11:14 am central: Updated Price levels
We have had some downward pressure to start the session, but has been a bit quite overall. We the last hour and a half we have traded up from the session low and has created new levels on the chart. The high volume bar on the day is trading around the 2027 price level. The hourly sell zone @ 2027 is in play.
Updated levels 30 min SnapShot Chart: Click for larger image
Published 3/28/16 8:27 am central: Original Update From this morning
We are back at it after the holiday weekend. We saw last week, Wednesday/Thursday show some short-term selling pressure come into the market and push us down to some of the mid-March price levels. These were ultimately erased as the end of the Thursday we some bullish strength enter the market after touching the 2012 price level and moved us back near the newly established Daily POC near 2031. As we pointed out in the updates last week we saw this as a possibility as the 1998 pricing is still holding strong as the true support line on daily chart.
Looking at prices to start our week, we had a tight range in the overnight with a high @ 2039.75 and a low @ 2030.00. So still slightly positive trade action from end of last week. Crude oil traded up to $40 and now is seeing a little weakness after that move. Late last week we were trading around 38.40 so we are seeing some strength in crude off of 2 days of weakness in this market too. Although the relationship between these two prices has weakened a bit, they are still heavily correlated, especially when we see downward movement.
Looking at Market Action Scanner, you can see we are neutral 3 of the 4 time frames and price appears to be comfortable around these levels. Bears need to push and close below 2027 so they can test the high volume area put in late last week at 2017 zone. The SP Odometer is showing that the 60 min chart is slightly green and we are still hanging in the red bearish zone on the 240 min time frame. So kind of split on short-term time frames. The Daily and weekly are still bullish green.
Looking at the 30 min SnapShot Chart, we are below our levels, so no direct action now. we are seeing some weakness from the previous highs as we broke through the 2036 sell zone very early this morning. That will be current resistance at the moment. We will wait and see for new levels and see what the week brings. 2027 is the hourly sell zone, so keep an eye on that.
30 Min SnapShot Chart: (click for larger image)
Market Action Scanner (click for larger image)
Economic Calendar: : Video on how to access on dt pro: https://vimeo.com/160017837
Subscribe to Market Dimensions Advisory – Free Edition
Market Dimensions Advisory – Free Edition - Market Dimensions Advisory leverages insights gained from working with professional traders, commercial clients and institutional businesses paired with an understanding of market relationships, order flow and trading volume, along with news, trends and seasonal info, to give you a "3D view" of trading.
Market Dimensions Advisory – Free Edition includes an email newsletter subscription.
Market Action Scanner
The Market Action Scanner is a premier Market Profile based scanner powered by the acclaimed TAS proprietary algorithms. Sign up for a 14-day trial to Market Action Scanner!
STOP ORDERS DO NOT NECESSARILY LIMIT YOUR LOSS TO THE STOP PRICE BECAUSE STOP ORDERS, IF THE PRICE IS HIT, BECOME MARKET ORDERS AND, DEPENDING ON MARKET CONDITIONS, THE ACTUAL FILL PRICE CAN BE DIFFERENT FROM THE STOP PRICE. IF A MARKET REACHED ITS DAILY PRICE FLUCTUATION LIMIT, A "LIMIT MOVE", IT MAY BE IMPOSSIBLE TO EXECUTE A STOP LOSS ORDER.
THE RISK OF LOSS IN TRADING COMMODITY FUTURES AND OPTIONS CONTRACTS CAN BE SUBSTANTIAL. THERE IS A HIGH DEGREE OF LEVERAGE IN FUTURES TRADING BECAUSE OF SMALL MARGIN REQUIREMENTS. THIS LEVERAGE CAN WORK AGAINST YOU AS WELL AS FOR YOU AND CAN LEAD TO LARGE LOSSES AS WELL AS LARGE GAINS.
This material is conveyed as a solicitation for entering into a derivatives transaction.
This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.
Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.
You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.