APA Zones Futures Forecast for $CL and $ES
On $CL on the weekly time-frame, ranging between 51.00 and 45.00 zones. On the daily time-frame you can see buyers step in with a lot of force. Based upon this price action I expect to see a retest of the 50 zones in short order as we move from the holiday weekend. Based on the zones, there will be resistance around the 48 to 49 level, as you can see in our video.
On $ES last week we were looking for the 2200 level to be reached, and sure enough the software was correct again. On the daily and 240 min charts you can see market consolidation at the moment. Currently, nothing is leading us to believe price will go lower unless price action proves it. It should go higher, it is just doing it slowly at the moment.
Like last week, I’m looking for the markets to rise during the thanksgiving week as we go into the positive end of the year season, it is just a matter of where to get in. We never ignore seasonality, we keep things simple and use price action to our advantage.