“Successful and unsuccessful people do not vary greatly in their abilities. They vary in their desires to reach their potential.”
Crude Oil is bullish and hunting for the $50 round number tomorrow after today’s OPEC meeting sent prices soaring higher.
E-Mini S&P is bearish and trading at the measured-move and low of a bear channel, so we’re waiting for a correction to sell more.
Gold is bearish and trading at the measured-move which tells the sellers to stay patient for a pullback.
Euro is bearish and trying to re-test the lows, but we have a short-term bull channel with what we call a ‘grind break’ telling us to expect higher prices in the short-term.
FDAX is bearish and trading at the lows of a wide bear channel this evening just a few inches away from completing the measured-move, so we’re looking for traps above prior swings overhead.
Crude Oil is bullish and hunting for the $50 round number tomorrow after today’s OPEC meeting sent prices soaring higher on the likelihood of a production freeze which will be finalized in mid-December. The bulls have control, and with such a big run higher today we know that most of the buyers are either already in this move, or they will be waiting for a chance to get in on the next deep pullback off the highs. Buyers will be looking for rotation off the low of this bull channel, or a deeper pullback to the support levels waiting below for a target going back to re-test the highs and the $50 round number tomorrow. The sellers also have a window of opportunity for tomorrow. With such a big move today, we may see a sharp correction back to the ‘battle zone’ at 47.56 which will give the sellers the open space they need to grab some profit to the downside tomorrow.
E-Mini S&P is bearish and trading at the measured-move and low of a bear channel this evening. The sellers have control, but they won’t be interested in selling the lows, so our best option for selling-opportunities will be up at the resistance levels, such as the high of the channel and the ‘battle zone’ for a move back down to the lows. The buyers, on the other hand, need to break and hold above the high of the channel if they want a shot at the ‘battle zone’ tomorrow, so stay patient.
Gold is bearish and trading at the measured-move this evening which tells us that the bears reached their objective for today and will either be looking to sell again at a higher (better) price, or they will need to see proof (strength) going through the lows on the way to a triple measured-move tomorrow. Sellers have control, but there is too much support standing in their way, so look for opportunities up at resistance levels overhead, or after a strong break down through the lows. Buyers on the other hand, may get a great opportunity to buy up to resistance overhead because this rising support trend-line will keep the bears from getting too aggressive at these lows, so wait for a new higher-high and then look to hold the pullback on the way up to the targets at 81.2 and 84.1 tomorrow.
Euro is bearish and trying to re-test the lows, but we have a short-term bull channel with what we call a ‘grind break’ which tells us to beware trying to sell until we see clear proof that the sellers have control tomorrow. Sellers have control, and will be looking for a breakout-pullback on the way down to re-test the lows, and the buyers will be looking for the same for a run up to test the ‘battle zone’ and possibly a run back to the highs tomorrow.
FDAX is bearish and trading at the lows of a wide bear channel this evening just a few inches away from completing the measured-move. The sellers have control after the buyers tried and failed to re-test the high from earlier in the session, but we can assume that the bears won’t want to sell this low, so the most reliable selling-opportunities will come up at resistance levels waiting overhead. Buyers on the other hand, will need to see a strong push higher before they think about buying this market, after getting plenty of opportunity earlier in today’s session we assume this market is pulling back to attract more buyers for the most reliable buying opportunities tomorrow, so stay patient if you’re a bull tomorrow.
Learn the Strategy & Join the Trade Room; Click here to register for the Free Trial