Pro Long:
- Trend line provided massive support (dark red line)
- High volume at support and during the rally
- future spreads very strong (N16-U16 turned into backwardation)
- If we close positive today 7 MA will cross 20 MA generating buy signal
Contra Long:
- running into resistance on middle Bollinger Band (20 day MA)
I sold the 2900 puts last week as a sideways prediction was put in place and will keep that position and add once I see a pull back into the lower trend line
- Trend line provided massive support (dark red line)
- High volume at support and during the rally
- future spreads very strong (N16-U16 turned into backwardation)
- If we close positive today 7 MA will cross 20 MA generating buy signal
Contra Long:
- running into resistance on middle Bollinger Band (20 day MA)
I sold the 2900 puts last week as a sideways prediction was put in place and will keep that position and add once I see a pull back into the lower trend line
