Crude Oil has broken above the potential channel high and has come back for a retest around 109.60. I am looking long from here back to 111.66 to the highs. If we do continue lower I will also be looking for selling opportunities below the channel highs pushing lower back into the range.
The Euro is sitting on top of its wedge lows. We are at about 75% completion at the moment and should be seeing a breakout soon. I will be looking to take this long back to the top of the wedge for a potential break out or at the least, a blow-off to 1.3499. If we push lower, we may also see a blow-off to 1.3323 and lower.
Gold is wedging VERY tightly towards the highs of the channel. We are going to see a breakout of this wedge VERY soon. I will be looking for a long and short with a breakout in either direction. I would prefer to see a break down AFTER we push up to the channel high for a FOBO of the wedge highs.
The Russell has pushed below the wedge low and is now nestled in a nice long term buy zone. We have started to consolidate here showing potential accumulation at these lows. I am looking long for a retest of the wedge low or at least to 1016.2. If we continue lower I will be looking short under the 1010.9 lows to take this lower to 1008.2. Come join us in the room and see how we do it!