6/12/25 Levels & Plan
The next catalyst is the PPI report, scheduled for tomorrow at 8:30 AM EST. Sellers successfully defended the February supply zone during regular trading hours, with passive selling that occurred between 6054-6058.50, leaving a poor high behind. This level will be noted and carried forward. The absorption that occurred led to liquidation during the J period, taking price below the overnight low and finding support within yesterday’s buying tail. Continued defense of this area maintains the validity of the daily one-time frame buyer control. Buyers need to break above 6045 and defend pullbacks into the 6030-6040 range, while sellers must continue defending this range to add further downward pressure.
Additionally, I'd like to mention the potential for a 'firecracker effect’. The candlestick chart below shows extended hours disabled. We can observe that the lower extremes are closely aligned. If a significant downside break occurs below today's low, it could trigger a chain reaction of stop loss orders. Should this happen, resulting in a 'falling knife' scenario, exercise caution.
