Saturday, February 6, 2016

Feb. Thoughts, Part 2

Metals:
$GCJ6:
Been a strong rally. Hard to look for shorts, but upside references come on daily swings @ 1183.6, 1192.2
$SIH6:
Same thing with silver, but a nice channel is hinting at possible upside resistance near 15.50. 200 DMA could also get in the way nearby at 15.163
$HGH6:
Hovering between 50% & 61.8% Fibs, also with confluence near EMA and a previous level of resistance (shaded box), this could be ready to retrace higher back to 2.1085 - 2.1152 zone.
The trade here would be to buy above last swing 2.095 STP, 1:1 tgt = 2.111; 2:1 tgt = 2.127

$PLJ6:
Pretty solid 1 year downtrend line resistance coming up, any spike thru should be next resistance at EMA 939/940
$PAH6:
The last congestion box low was paired with w previous swing low on daily chart. Any further extention higher should be capped at that resistance level  520-525 as well as 50DMA
Shorter time frame a bit more choppy. Could be possible day trade if it clears 506 and gets to 513/515 before failing at Friday's high.
Skipping currency futures.

Grains:
$ZCH6:
Very congested and a breakdown could be juicy, or false BO. Will need to watch reaction  below 364
$ZWH6:
Also a bit congested; downside break below 463 may not have much room with 456 support nearby. Could be worth a look.
$ZS:
Stuck in a triangle; nothing here until breaks free of congestion inside.
Unless we get a solid break lower, which could be a nice 10pt scalp:
$ZLH6:
Nice looking channel. Would like to nibble long at a dip to EMA, 30.97 area.
$ZMH6:
Congested on 20d; looking at weekly chart, a break to new lows out of the congestion recently could open up 251 & 235/236 support.
$KCH6:
Waiting for Fibzone to become new support.
$SBH6:
A BO above 13.4 could open up 13.90-14.15


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