Looking for a PG Pull Back
Looking back, we are just above the historical resistance level ~$94 dollars that rejected $PG on several occasions.
I'd keep an eye on this through the close and into opening next week. If today's highs mark the end of the most recent rally, I'd expect a pull back to the $91 range, and potentially down to $88.50.
I'd be surprised to see this continue to rip, given where it's been, as low as $71 back in April. I don't see it going back to those levels, but a retest of $86 would be better for the long term health.
I'd keep an eye on this through the close and into opening next week. If today's highs mark the end of the most recent rally, I'd expect a pull back to the $91 range, and potentially down to $88.50.
I'd be surprised to see this continue to rip, given where it's been, as low as $71 back in April. I don't see it going back to those levels, but a retest of $86 would be better for the long term health.
Yorum:
The $94 break out has failed, going short here with short-term put contracts
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