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Notes for Tonight’s Newsletter:
Crude Oil is bearish overall but bullish in the short-term on its way back to re-test the 45.52 GAP and complete the spike-and-channel correction before we can expect the sellers to react again.
E-mini S&P is bullish this evening trading inside a new channel as we make a run back to the original trading range we started from this week. Sellers took price lower this morning with strength down to 1900.00 but couldn’t keep control and now buyers are working their way back to where the week began.
Gold is clearly bullish after today's rocket ship higher, but this type of buying pressure can’t keep up forever so sellers will be watching for buyer-failures to sell into stop-losses on the way back to the beginning of the bullish spike & channel.
Euro is bullish this evening after a strong push in today's session but the bulls are hanging by a thread and sellers will be looking for them to fail so they can take back down to range-lows on Friday.
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