Crude came into the low of yesterday's channel and has since bounce up. This formed the final low point for the wedge low down at 102.30. I am looking to continue buying this move higher in the short term to 105.07 - 105.12. As this market has is VERY negative, I will also be looking to take this back short to revisit the wedge low as well as the overall low at 102.30.
The Euro has been bouncing higher after rejecting yesterday's wedge low. I will be looking to buy this market higher to the swings at 1.3548 - 1.3552 as well as a push above that to the overall high at 1.3575. We did just have a FOBO above the previous swing so I will also be looking for short term sell signals to take this down for a retest of the wedge low as well as a blow-off to 1.3464.
Gold has rejected the LC zone we were talking about yesterday and has since pushed higher. I will be looking to take this long in the short term back to retest the BMT at 1334.6 but overall as we are still wedging here, I will also consider shorts back to the lows of the wedge as well as potential blow-offs to the low at 1291.5.
The Russell is smack-dab in the middle of the wedge right now and has done nothing but consolidate for the past several hours. I will be looking for moves in either direction to the top of the wedge up to 1080.1 as well as down to the wedge low for a potential blow-off to the low at 1063.3 and the BMT at 1063.1. Come join us in the room and see how we do it!