APA Zones Futures Forecast for $ES and $CL
On $ES (emini Dow Jones, S&P500) we are looking at new highs again this year. We expect to see price hit the 2200 level possible this week. Then we are looking for a pullback back down 2170 demand zone. This week price seems like it is going to soar to the 2200 level before considering the pullback which would make a lot of since going into the holiday weekend.
On CL We are in a big weekly range. Moving from low to high. Price is moving from 43 up to 52 and the supply zones around $52. Price should hit $50 supply zone this week and may recoil a little but continue on up higher to the $52 daily and weekly supply zones.
Overall, 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.