Thursday, August 27, 2015

5 Trades for Summer Friday | Crude Oil, Gold, E-mini & Euro Futures 08/27/15

"Nobody can go back and start a new beginning, but anyone can start today and make a new ending."
Notes for Tonight’s Newsletter:
These markets are RED HOT right now as we go into another Summer-Friday; Crude Oil gave us the correction we have been waiting for, the E-Mini S&P is showing a lot of strength at new highs, while Gold and Euro are setting up for new opportunities tomorrow… are you ready to trade these with us?

Crude Oil is bullish after a +10% move off the recent lows today, but today's move is the first push higher, and wise traders will be looking for buyers to fail at these highs on profit-taking for selling opportunities back lower on Friday.

E-mini S&P is bullish and trading at the highs of the bull-channel which means buyers are staying patient to look for the next pullback to support levels and bear-traps as sellers try to sell these highs.

Gold is bearish this evening after collapsing off the highs and the bear-channel-overshoot combined with extension-support tells sellers to look for a correction higher before we look for selling opportunities up at resistance levels overhead

Euro is bearish and trading at the lows of the bear-channel which means sellers will be looking for opportunities to sell the highs of the channel with retracement patterns and buyer-failures as we push down to the target around 1.100

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