[Soultrader]

The YM has shown an impressive bull run the last few trading days. With 4 consecutive higher value areas established, we are currently testing the upper range of the 4 month old trading bracket. With 11400 as an ultra key level, we willl need to see significant volume to asborb the sellers in this area for any movement to the upside. The remaining of the week will be crucial for the bulls. The bears will be trying to protect this zone, shorting around the 11400 level. However, with strong other time frame buying presence there is a good possibility that this level will break. This breakout can be quite drastic as alot of stop orders will be taken out in the process. A short squeeze will occur and may fuel enough energy for new market participants to start buying this break. This will lead to further rally causing a possible beginning of a new uptrend.