The price of the future contracts has been linked since the beginning of this year. I entered a side direction after seeing a significant decrease in the price.
The IE active expiration, the January series, is largely fluctuating in the range of $ 176 and $ 178.50.
Long -term long -term chart shows long -term support between $ 173.50 and $ 176. This has been in effect since June 2021. Also, the broader time frame shows that the main futures have remained in the range of $ 173.50 and $ 196 since June 2021.
Since the contract is now circulating near the bottom of the range, the chances of the assembly are high. In the medium term, future futures can rise to the top of $ 196. Within the wide range, it can face resistance at about $ 184.
Given the potential transition from the current level, there is an opportunity for local length at the current levels.
Trading strategy
On January 1, we suggested purchasing the leading futures for $ 176 with a loss of stopping at $ 172. Hold this trade. As the contract approaches the expiration of the authority, traders can roll from the contract from January to February at the current price levels.
New traders can also be seen now, with a loss stop at $ 172.
When the contract reaches $ 184, review the loss to $ 180. Book profits at $ 194.
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