Crude Oil is failing off of its newly formed wedge highs. I am looking to go short into the BMT at 105.72 and the wedge lows further down. If we do continue higher I will also be looking for longs as the wedge highs have not been confirmed yet. Long targets will be the major wedge high as well as a potential blow-off to 107.37 - 107.53.
The Euro is pushing into the wedge highs right now. I am looking long for a test of that level before looking to take this back short to the BMT at 1.3349 as well as the wedge lows further below that. If we continue higher I will also be looking for longs above the wedge high after a retest of it.
Gold created a newly formed wedge high and has since started falling off. As this is a newly formed wedge, I will still be looking for long setups. Predominantly I will be looking short for some profit taking back to the channel lows and possible a push lower to the BMT at 1365.0.
The Russell has created a newly formed wedge high. We had a rejection earlier on the 23rd of the BMT at the low of 1029.6. I will be looking both long and short as we haven't confirmed this new wedge high. If we continue higher from here I would like to see a confirming test of the wedge or a push higher to 1042.0. If we push lower, I will be looking for another test of the BMT at 1031.8 or lower to 1029.6. Come join us in the room and see how we do it!