Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Commodity Analysis : No change: "Given sentiment as indicated by COT and the retracement of the rally from the 2/21 low stopping at the high volume day close (2/20 close in futures), a bullish bias is warranted against the 2/21 low. The counter to this is that a drop below 1555 could complete 5 waves down from 1697 and give way to a more persistent advance."
Commodity Trading Strategy : Long against 1555, target 1650
LEVELS: 1523 1555 1576 1620 1639 1652
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.