The Day Ahead: PM Edition 2022-03-28

Promising move lower in crude

Bonds

ZB firmed up against 146^17 after a tiny poke under early in the morning. The impulse down from the early February high doesn’t look complete but acknowledge that it isn’t easy to push that much lower. I’d like to get another low in after a bounce to finish off wave [III]. Resist on any bounce at 148^21 and 149^27.

Prefer a little lower in [III]

Also…