Price is siting on highs this morning. Prep is more speculative this morning. Premise is to look for potential inside support at 1166.50. This will be a shallow pullback prior to an attempt to extend the highs. The entire range 1170.50 - 1159.50 has pockets of support areas that will make trading difficult in this area. I will stay on the long side unless there is a clear washout extension of 1170.50. If 1166.50 holds, look for a continued grinding trend up. If 1070.50 extends and fails with good structure, look for correction down to 1159.50 and attempt at 1147.75. I will look to initiate longs with good structure off the 1166.50 area and shorts after the price move back inside if there is a washout extension of 1070.50.
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