Wednesday, September 16, 2015

My Plan for FOMC Thursday | Crude Oil, Gold, E-mini & Euro Futures 09/16/15

“Never give up, for that is just the place and time that the tide will turn.”
Notes for Tonight’s Newsletter:
The week of range-rotation continues tomorrow with BIG news from the FED which means we need to be ready; Crude Oil and Euro are looking good for buyers while E-Mini S&P and Gold are looking ripe for the sellers… are you ready?

Crude Oil is bullish as buyers continue to rotate this market back towards the highs of this $5 range around $49.00.  Today's big push higher ended with a trading-range so we will plan on using that trading range along with measured-moves as our areas of interest for tomorrow.

E-mini S&P is bullish, but we are all the way back at the highs of the range which means wise traders will be patiently waiting for the buyers to fail for short-term selling opportunities off the highs.  We can also see a bullish spike and channel which gives us two VERY important areas of support below us for targets as well as the next buying opportunities!

Gold is bullish after today's rotation off the lows, but the buyers took it all the way up to the range-expansions overhead so we will be looking for selling opportunities to push this market back into the range it came from earlier this week!

Euro is bullish rotating back to the highs of the range this evening which means we are looking for short-term buying opportunities until we get back to the highs and then we look for rotation back to the lows!

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