One can only guess at what the futures will do on Wednesday, since there are two distinctive patterns, one bullish, the other bearish, in conflict on the hourly chart. It’s tempting to flip a coin, but I’ll go out on a limb and predict the June contract will be trading lower come Friday. That implies that the pattern shown will carry the day, perhaps even if buyers are able to push above its 2366.50 point ‘c’. But not if the intraday high surpasses the external peak I’ve labeled at 2378.75. Bears should scramble for cover if that happens, since it would put the 2439.00 target of the much larger, bullish pattern in play.
