Crude Oil is pushing lower after rejecting out of the cloud from its high at 102.27. We are currently entering into a bunch of buy zones and we also have an LC zone below us which lines up just above the wedge low. I am looking to sell long term lower overall, but since we have yet to break the lows above 101 I am looking more for a bounce at a double-bottom to buy back up to the wedge highs.
The Euro is currently at the BMT at 1.3546 as well as the larger 60-Minute TZ Sell area giving us a high probability of catching a move down today. I am looking to sell this market lower to the wedge lows around 1.3500 but we do have buy zones starting at 1.3530 on down so it may be a rocky ride. If we continue higher, I would like to get above the BMT before buying to the wedge highs.
Gold is beginning to get caught up in several overlapping wedges and we are nearing the breakout point on the smallest of them. I am looking both long and short as I am expecting to see a few FOBO's of the highs and lows before we choose a direction. I do have a long bias for the eventual breakout up to the BMT at 1316.3 as a magnet before falling lower to meet the 1276.9 lows.
The Russell is currently at the wedge highs but we have already surpassed AND close above that area. I will initially be looking short down to the lows at 1034.7 but my bias for today will be to the long side up to the BMT at 1061.2. If we can manage to stay above the wedge highs and continue closing above I will be looking for buy setups on up to the BMT. Come join us in the room and see how we do it!