Thursday, July 23, 2015

5 Trades for a Summer-Friday | Crude Oil, Gold, E-mini & Euro Futures 07/23/15



“Develop an attitude of gratitude, and give thanks for everything that happens to you, knowing that every step forward is a step toward achieving something bigger and better than your current situation.”

Notes for Tonight’s Newsletter:
We have another exciting session ahead of us on Friday, and these STRONG trends tell us to be ready for anything… I have a plan… are you ready?

Crude Oil is bearish and trading down to the lows of the long-term bear-channel.  Sellers are looking for opportunities up at resistance levels above, and buyers need to be patient for times when the sellers fail at support levels as this price becomes oversold.

E-mini S&P is bullish, but the channel-overshoot from earlier this week tells us to stay patient for an overshoot on the opposite side before looking for more buying opportunities on Friday.

Gold is VERY bearish right now which means sellers are looking for opportunities at resistance levels above and buyers need to be patient to wait for the sellers to try-and-fail and the range-lows because this is a strong bearish trend.

Euro is bearish, but bullish in the short-term as it comes off the recent lows from earlier this month.  Sellers are taking every opportunity to sell resistance levels overhead while buyers can look for opportunities to buy support levels during this correction.



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