“Character cannot be developed in ease and quiet. Only through experience of trial and suffering is the soul strengthened, ambition inspired, and success achieved.”
Notes for Tonight’s Newsletter:
Crude Oil is trading inside a range this evening with a bullish spike & channel from today's session. Our plan is to look for range-rotation from the highs down to the lows of the range, keeping an eye on the lows of the bullish spike & channel for the sellers to fail a test of the lows. If the sellers fail to test the lows we will see this as bullish and look for a long-term measured-move back higher on Wednesday.
E-mini S&P is bearish and now trading inside a range this evening. Our focus is to look for selling opportunities this week, which means we will be looking for buyer-failures every time this price tries to move higher. We will use range-rotation to help understand where price will be headed next, keeping an eye out for prices to try to break to new highs for the best selling opportunities. If price pushes lower we will be careful with buying the lows, waiting for buyers to fail at the lows for a continuation down to the next range-expansion levels below us at 1856.50 and 1846.50.
Gold is bearish with a spike & channel moving lower which means we will be patient to wait for a measured-move-correction higher into resistance levels overhead for the best selling opportunities and we will use the support levels below for our targets.
Euro is bullish as it rotates back to the highs of the range, but we can see that the buyers barely missed the highs early this morning which means we need to stay patient for a short-term correction before we see that next push higher. Once we get up to the highs of the range we will then look for selling opportunities using buyer-failures at the highs, and if the buyers fail altogether we will look for a re-test of the range lows.
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