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Bonds “US” (Jun)
Coverage for March 28
The 112'02 stop had held Monday on a closing basis. This allowed Tuesday's open to gap down and retest Monday's prior low. Monday's low wasn't actually pierced, despite being touched twice, so a lower low remains likely. And probably more than a slightly lower low since the market remains optimistic.
(Basis Jun) Short under 113'00 (met 3/9) for
111'24 (met 3/23) and 111'08 targets,
112'02 stop
Crude Oil “CL” – mini “QM” – (May)
Coverage for March 28
Tuesday's open tested the adjusted 62'25 stop by 1 penny and held. The balance of the session only ranged sideways in negative territory. The "ineffectual pessimism" supported a late-afternoon surge to new session highs, but buyers can't afford to hesitate if new highs will be possible.
(Basis May) Long above 60'55 for
63'50 targets,
62'25 stop
Gold “GC” – mini “YG” – (Apr)
Coverage for March 28
Tuesday's session ranged relatively narrowly, especially considering the wide-ranging sessions recently. The opportunity for filling the gap back down to Friday's close has probably been delayed until higher highs can print. But there is no signal currently either way.
(Basis Apr) Short under 651'50 (met 3/12) for
642'50 (met 3/14) and 630'00 targets,
644'50 stop (met 3/15)
Dollar “DX” (Jun)
Coverage for March 28
Tuesday's session didn't reject Monday's dip. But neither did Monday's dip extend down. Since sellers didn't gain traction, there remains potential for a more substantial recovery leg.
(Basis Jun) Buy above 82'90 for
83'35 and 84'35 targets,
82'65 stop
PREVIOUSLY... (Basis Dec) Sell under 84'90 (met 11/10) for
83'50 (met 11/24) and 83'05 (met 11/28) targets,
82'75 stop (met 12/8)
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