Feb 292012
 

I prepared my levels last night and planned to update them in the morning.  I slept in this morning and some of these levels were already tested overnight.  Usually I only take the first test.

Bund:

Stopped 3 ticks short of previous high.  This is a major level.  My bias is bullish however I will be very careful to trade longs here unless it breaks above.  I will not trade short until it breaks 138.74.  So it’s in “no man’s land” and I probably won’t trade.

Support Levels: 139.58, 139.34, 139.00-10.

Resistance Levels 138.74, 138.60, 138.44-48.

Stoxx:

Stoxx is in the middle of its micro-composite.  Expecting two-sided trade until it moves up or down.  Bullish bias above 2495.

Support Levels: 2523-29, 2533, 2543-50.

Resistance Levels: 2495, 2486.

Euro:

Bias is bullish above 3386 but it’s in a range for several days.

Support levels: 3456-68 (already tested overnight so less useful now), 3414-20

ES:

Bias is bullish above 62.25.  Longs are risky here.

Support Levels: 70.50-71.25, 66.75-68.25.

Resistance Levels: 1362.25, 1360.

Gold:

Bullish above 1768.  I don’t have a lot of confidence in this area and will be conservative.

Support: 1782.4, 1778.

Crude:

Bias is bearish below 108.60.

Resistance levels: 106.48, 106.68, 107.88.

Support Levels: 108.60.

 

 

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