Jump to a section in this post:
1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – March Corn, March Wheat, Jan Beans, March Silver
5. Economic Reports for Wednesday, January 11, 2012
1. Market Commentary
So after periods of high volatility towards the end of last year, the last few weeks we saw very tight and narrow ranges.
I am still hoping that this is due to the holidays and end of the year trading and not a market environment that is here to stay with us…..
Last few days ranges on the mini SP have been quite narrow in comparison to November and October of 2011.
Every trader is different and some prefer the “quieter, slower” trading environment, while others prefer “instant gratification or punishment” = volatility.
The crude oil market definitely falls into the second category and below is an intraday chart from part of this morning trading.
I am using 180 tick chart and you can see that in approximately 18 minutes time frame the crude market had a range of about 60 cents which equals to $600 per one contract, against you or in your favor….but the point is, this market has higher volatility and ranges.
