Tuesday, May 19, 2015

7 Trades for Wednesday | Day Trading Crude Oil, Gold & Euro Futures 05/19/15

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Notes for Tonight’s Newsletter:

Crude Oil 
Crude Oil is pushing higher ahead of tomorrow’s inventory report; Gold is trying to test $1200 and the Euro collapsed down to channel-lows and looking to rebound on Wednesday… are you ready for these trading opportunities?

Crude Oil is bearish this evening, but sitting right on channel-lows which means we can expect buyers to jump all over this price ahead of tomorrow’s inventory report.

Euro is also sitting at the lows of a long-term bull-channel which means we can also expect buyers to take this price higher, but don’t count the sellers out of this game just yet because today’s move was VERY strong into the lows.

Gold gave us a clear ‘undershoot’ of the bull-channel-highs today, which suggests weakness from the buyers and tells us to expect price to continue pushing lower down to the $1200 big-round-number and $1198 undershoot-support areas.

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