I expect oscillation to be the main theme of Monday's trading session given that on Friday we had a big trending up move. Here is a 30 minute chart of the September contract with support/resistance levels:
On a day like this both sides of the market can be played. Depending on where it opens, the session can have a low at 1060 or 1055 (marked with green) and will most probably top at 1068 (marked with red) or 1072. The overnight range also usually plays an important role.
In conclusion, the important thing to remember today is not to get sucked in by a violent rally or sell off as these have a very high probability of failing.
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