Friday, November 15, 2013

Day Trading Prep; Charts we're watching today

Markets we are watching this Morning

Euro Currency Futures:
Euro Levels for Today
The Euro is trading sideways going into the morning session in the US today.  We can see price-action in the middle of the trading-range with easy targets above and below to shoot for.  We are going to sell the resistance levels overhead and buy the support levels below; the bullish long-term trend tells us that buying the support levels will likely result in the best trading opportunities.

Targets Above:  3483, 3506, 3536, 3560
Targets Below:  3429, 3397, 3372, 3662

Gold Futures:
Gold Levels for Today
Gold is trading sideways this morning right at the major support trend-line on the 30-minute anchor chart.  We can see there is a long-term trend that is bullish, however recent developments from the US and China have put selling pressure on this precious metal.  We will buy the support levels below us and sell the resistance levels above us, but with the trend-line support right here we will start by looking for buying opportunities if price reacts positively to this area at the opening-bell.

Targets Above:  1288.3, 1293.3, 1301.0, 1302.9, 1309.9
Targets Below:  1281.4, 1277.2, 1273.2, 1270.0, 1267.6

Crude Oil Futures:
Crude Oil Levels for Today
Crude Oil is also trading sideways this morning right on top of support at 93.80 and we can see a flat trend this morning.  With this long-term trend being sideways we can buy the support levels below us as price falls, and sell the resistance levels above us as price rises.

Targets Above:  94.24, 94.43, 94.54, 94.78, 94.95, 95.15
Targets Below:  93.80, 93.47, 93.24, 93.00, 92.92

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