The Day Ahead: PM Edition 2022-05-18
A bad day in the equity indices, crude working lower
Bonds
ZB bounced today which is not much of a surprise. At initial resist now at 140^12 but a tap of 141^25 is possible. I’m penciling this move in as the last segment in (A) of [IV].
Crude Oil
Nice drop in CL today but can’t be certain that the b wave is complete till CL spends time under 106.80. Resist for a lower high at 109.45 and…
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