Overnite Inventory is Balanced and the overnite low is contained within the Spike. The base of the Spike at 1353.25 and the Value Area High from Friday is your immediate downside reference and support. The immediate upside reference is the next weekly high at 1363.75. Price acceptance and building Value within the Spike is positive; while Price acceptance and building Value below the Spike will be negative. An ideal Long will be a failed auction below the overnite low and/or the base of the Spike.
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