Pre-Market Prep For ES & CL
Disclaimer: This prep is posted for your reference and learning. This is not financial advice nor trade ideas you should execute. Past performance is not indicative of future results.
0830 USD Advance Goods Trade Balance
1030 USD Oil Inventories
Trade Plan Video
Lots of dissonance between my oil levels. New formed value is the O/N balance so that will be what I pay a lot of attention to. If we breach back into yesterday’s value, they can attack it that way. We need to remember that we have inventories later so may not be too much action before it.
The ES is currently attempting to remain a state of imbalance. Again, with major data coming out later in the session the morning may be less fruitful. This is also the day after a day of imbalance thus balance is likely to form until the data comes out. Want to see the monthly narrative play out.