Nov. 14 at 2:57 AM
$CME: The current market context shows a strong upward trend, with the last close at
$283.54, approaching the 60D high of
$287.74. The RSI at 69.56 indicates that the stock is nearing overbought territory, suggesting potential for a pullback. However, the price is above both the 30-day MA of
$268.99 and the 50-day MA of
$266.87, reinforcing bullish sentiment.
Directional bias leans bullish due to the price action above key moving averages, but caution is warranted given the high RSI. Suggested entry is at
$281.00, slightly below the last close to confirm strength. Set a stop at
$275.00 to manage risk. Target 1 is
$287.00, just below the 60D high, and Target 2 is
$290.00, allowing for potential breakout gains.
Monitor for any signs of reversal as the stock approaches these levels.
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