Crude Oil is expanding the lows once again and maintains to keep a VERY bearish attitude. Once we cracked below the 100 BRN we have been falling ever since. I am looking to continue selling on the way down as we expand these lows. Once we have a confirming swing low for the wedge to anchor on we will continue selling lower.
The Euro has pulled off of the highs after double-topping at 1.3795. We have since blown right through the double-top support area and because of that we are looking much more bearish. I am looking to sell to the wedge lows below us but once we reach that area I will be looking for price to bounce there possible back up to revisit the double-top at 1.3795.
Gold has pulled off of the highs at 1344.7 and also confirmed the wedge high for the most part with the second attempt at 1342.2. We have now pulled back into the cloud as well as a buy zone. We have yet to test the wedge low but I am going to be looking to buy from here down to the wedge low back up to the wedge high and a test of the swings at 1342.2 & 1344.7.
The Russell is currently expanding the wedge lows without giving much of a pull up. The swing high at 1120.5 has now confirmed the anchor point for the wedge high as well. I am looking to sell this market lower as we expand the lows down to 1101.4 at the swing level below us. Once we confirm the lows for the wedge to anchor on I will then start looking long higher up. Come join us in the room and see how we do it!