Tuesday, July 21, 2015

My Plan for Wednesday | Day Trading Crude Oil, Gold, E-mini & Euro Futures 07/21/15

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Notes for Tonight’s Newsletter:
These markets are setting-up for more trading opportunities on Wednesday;  Crude Oil and Euro are testing key-resistance, Gold continues to trade the ‘flag’ and the E-Mini S&P is pulling-back off the highs… are you ready for tomorrow?

Crude Oil is bearish and coming off an easy selling opportunity at resistance overhead; Sellers will keep looking for opportunities at resistance and buyers will be looking for those sellers to fail at support levels for buying opportunities.

E-mini S&P is bullish, but after testing the highs of the range with an 'overshoot' of the channel-highs we expect to see this price re-test the channel-lows before going back up to new highs.

Gold is trading inside a bear-flag this week which means sellers will be looking for opportunities up near the highs of the range and buyers will stay patient to look for seller-failures at the range-lows.

Euro is bearish and trading at a very important area on the chart near the lows of the price-wedge and trading-range.  Sellers will look for opportunities as we move lower, and the buyers will be anxious to see the sellers fail because that will send this price up into the range above us with a target at 1.1100.

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