Tuesday, February 4, 2014

Crude 60-Minute
Crude Oil has had a hard time getting a push higher and every time it does it is met with large block sellers bringing in supply. We have now come down and settled in a demand zone as well as on top of the wedge lows. I am looking to buy this market back up to the wedge highs around 97.50's where we can then look to take this market right back down assuming the sellers will come in again.

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Euro 60-Minute
The Euro caught a nice block of buying in demand from 1.3495 - 1.3476 which was defended two times now pushing the Euro higher into the wedge highs. Now that we are at the wedge highs I will be looking initially to sell this lower back to demand. If we do start breaking through the highs we can also look to buy the Euro up to the BMT sitting at 1.3578.

Gold 60-Minute
Gold started to look as though the bulls were taking over with the very strong push above the BMT. Once we were above though, we caught a huge amount of selling pushing price right back down and through it again. Now that we are failing lower I am looking to sell Gold short down to 1243.5 at the wedge lows where we can start to look for a possible long back up to value at the BMT once more.

Russell 60-Minute
The Russell has caught a significant sell off yesterday pushing to a fairly solidly defended low where a bit block of demand came in from 1090.2 - 1086. The buyers at those lows have defended it a few times now showing they are in control at the moment. I will be looking long from here back to the previous structure support at 1115's or so. I will also be keeping an eye open for the sellers to come back in to swat price lower for possible short trades.

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