Turnaround Tuesday! S&P and Nasdaq both closed on their highs yesterday, only to reverse sharply today. Fed Vice Chair Lael Brainard's hawkish comments combined with the EU's ban on Russian Oil, Coal & Natural Gas got the ball rolling after a light volume day yesterday (lowest of the year for $spy, $qqq, ES Futures, NQ Futures).
**SUPPORT & RESISTANCE LEVELS HIGHLIGHTED IN OUR MORNING EXPRESS RESEARCH** (https://www.bluelinefutures.com/post/...)
May 22' Crude Oil touched the 21 Day Moving Average overnight. Mar 31 Daily Volume (sharp move from $108 to under $100) was the largest volume day for the contract, giving us a headwind to the upside. Gold and Silver are lagging due to a large down day in the Bonds cobined with a higher US Dollar. It's important for Gold to hold $1920, in order to remain in an uptrend. CME is launching a Micro Copper Contract! Contact us to discuss how it can add exposure to your portfolio! 312-278-0500
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Futures trading involves a substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
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