
E-mini S&P (December) / E-mini NQ (December)
S&P, last week’s close: Settled at 4568.25, up 1.00 on Friday and 40.75 on the week
NQ, last week’s close: Settled at 16,021.00, down 28.25 on Friday and up 125.25 on the week
The trend is bullish, E-mini S&P futures must establish a floor at major three-star support at 4551.25-4555 and E-mini NQ futures at 15,894-15,917. If this can be done today, we expect a rally into month-end.
Bias: Bullish/Neutral
Resistance: 4570*, 4575.50-4580.50**, 4597.50***, 4653****
Pivot: 4563
Support: 4551.25-4555***, 4537.75-4541.25**, 4524.50-4527.50***, 4512.75-4514.25***, 4498-4503***, 4490.25**, 4462.25-4470.25**, 4447**, 4425.25-4430.50****, 4419.25-4420.25**, 4407.25-4409.50***
NQ (Dec)
Resistance: 16,053**, 16,104-16,117**, 16,159-16,173****, 16,265-16,275****
Pivot: 16,012
Support: 15,937-15,942**, 15,894-15,917***, 15,825-15,832**, 15,790***, 15,719-15,732***, 15,588-15,612***, 15,547-15,552****, 15,453-15,468***
Crude Oil (January)
Last week’s close: Settled at 75.54, down 1.56 on Friday and 0.50 on the week
Rare major four-star support is being tested again at 73.66-74.05. We are cautiously Bullish in Bias if this level holds. Look to the evolving OPEC+ narrative into the ministerial meeting rescheduled for Thursday.
Bias: Neutral/Bullish
Resistance: 76.01-76.28**, 76.85-77.12***, 77.80-78.19***, 78.39-78.46**, 79.20-79.65***, 80.10-80.23***
Pivot: 75.23-75.41
Support: 74.73**, 73.66-74.05****, 72.91-73.09***, 72.31-72.47***, 70.00-70.69***
Gold (December) / Silver (December)
Gold, last week’s close: Settled at 2003.5, up 10.2 on Friday and 18.3 on the week
Silver, last week’s close: Settled at 24.341, up 0.653 on Friday and 0.489 on the week
Gold futures must settle above 2009.2-2012.7 and maintain a path to trade above new local highs, aligning with resistance at 2019-2022.1. Silver futures must maintain a breakout above major three-star resistance at 24.56-24.63. We have a more Bullish Bias, if such a breakout is established.
Bias: Bullish/Neutral
Resistance: 2019-2022.1***, 2028.6**, 2042-2050**
Pivot: 2009.2-2012.7****
Support: 2001.4-2003.5***, 1994-1997.8**, 1986.1-1988.6**, 1979.9-1980.3**, 1973.1-1975.8**, 1966.9-1967.7***, 1958.8***, 1949.8-1953.5***, 1935.6-1938.8****
Silver (December)
Resistance: 24.87**, 25.11-25.22***, 25.42-25.50****
Pivot: 24.56-24.63***
Support: 24.16-24.22**, 24.08**, 23.85-23.93***, 23.71-23.73**, 23.58-23.65**, 23.27-23.34***, 23.04-23.08***, 22.81-22.90***
Bill Baruch, President & Founder, Blue Line Futures