“A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.”
Notes for Tonight’s Newsletter:
Crude Oil is range-bound this week which means our plan is to sell the highs and buy the lows of the range. Today's Inventory Report gave us the sell off the highs, and now we find ourselves down at the lows with a GAP overhead at 45.52 and a new spike & channel to look for a correction and possible failure on Thursday.
E-mini S&P is range-bound with a bullish bias 'tone' this evening after we saw sellers try twice to test the lows of the range and when we combine that with the new bull-channel and un-filled GAP overhead at 41.75 we can expect the buyers to attempt a run back to the original range from this week.
Gold is range-bound with a bullish tone this evening as sellers took their profit and buyers immediately moved price above the Spike & channel correction level at 1130.6. We see a new bull-channel on the chart and will use that for key confirmation tomorrow.
Euro is bullish this evening after sellers took their profit after 2 days of strong selling; The bearish spike and channel reminds us not to be fooled by this move higher, but today's bull-channel, combined with the un-filled gap overhead tells us to watch the lows of the channel closely for buyers to hold control and send this higher on Thursday (or) we will finish the spike and channel and rotate lower.
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