“Change your thoughts and you change your world.” –Norman Vincent Peale
Notes for Tonight’s Newsletter:
Markets are setting-up for another exciting session tomorrow as the final 'Brexit' votes are being tallied; Crude Oil, S&P and Euro are bullish while Gold is bearish going into Friday's trading session. We're expecting plenty of trading opportunities in tomorrow's session!
Crude Oil is bullish and trading at the highs of a channel this evening; The strength of the move higher this afternoon tells us to expect the buyers to be looking for the next pullback, but the resistance at the channel-high tells the bulls to wait for a pullback to prior support levels and then look for seller-failure for the most reliable trading opportunities tomorrow.
E-mini S&P is bullish and trying to complete the rotation up to the high of a bull channel this evening; It’s hard to justify buying the high at this point, but the most recent move higher has been extremely strong which tells us that smart buyers will be looking for seller-failures on the next pullback for the most reliable trading opportunity.
Gold is bearish and trading at the lows of a bear channel this evening; The bears finished the measured-move with strength which tells us that more sellers will be interested on the next pullback off the lows but wise sellers will be waiting for the buyers to try to buy this low so they can sell into their stops for the most reliable selling opportunity back down to the 'triple-down' target below.
Euro is bullish and rotating off the lows of a bull channel this evening; With the 'Brexit' votes still being counted, we have the bulls responding with strength off the lows of the channel as the bulls aim for the 14600 highs and measured-move overhead. We can also see that the previous bear channel tried to re-test the lows but failed which leaves the door open for a big push back to the highs if the buyers can’t hold this pullback but we assume that there will also be buyers waiting below the lows for a move back to the highs on a 'trap'.
Test-Drive our Advanced Membership Click here to register for the Free Trial!
Are you a Crude Oil Trader? Click here to trade Crude Oil
Are you a Euro Trader? Click here to trade Euro
Are you an E-Mini Russell Trader? Click here to trade E-Mini Russell
Are you a Gold Trader? Click here to trade Gold
Join the Premier trade-room as an Advanced Member