6/16/25 Levels & Plan
Thursday's overnight session led to a strong liquidation due to rising geopolitical tensions. Over the past 5 trading days, the lower extremes were clustered closely together as I mentioned on Wednesday’s newsletter. This type of buying is considered weak, and all it takes is a catalyst to trigger all of these stops at once.
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.
We have contract rollover this week. Normally, I prefer to wait for the volume to exceed onto the next month before switching to the next contract. However, I will switch to the September contract now to prepare all areas of interest for this week. Also, I keep my charts back-adjusted (personal preference). Down below are my symbol settings for Sierra Chart.
