This FAKE-OUT BREAKOUT Could Be the BIGGEST Trade of the Week!
Markets continued their slide lower today, finishing the day at major support with trading-ranges above us…
Major support, range above us… sellers need to hold this next pullback, or this ‘Fake-Out Breakout’ could turn into one of the biggest trades of the week!
Emini and Nasdaq are bearish with another strong move higher, but we’re sitting at major lows, with a range above us – perfect recipe for a ‘fake-out breakout’ reversal!
Crude Oil is bearish into major support too, and that range above us will make an easy magnet if sellers can’t hold this next pullback!
E-Mini S&P (ES):
The Emini is bearish with another strong run lower today.
Sellers will be looking for a retest of today’s low, while buyers try to complete a pendulum-swing rotation back to $4000.
Keys to Success:
- Strong move down, range breakout, support trend-line, support below
- Bears want a deep pullback and a retest of today’s low.
- Bulls want a reversal back up into the range(s) above
E-Mini Nasdaq (NQ):
The Nasdaq is bearish with a strong move lower today.
Sellers will look for a breakout pullback using today’s range, while buyers look for a reversal back to where the day began.
Keys to Success:
- Strong move down, range breakout, support trend-line, major support
- Bears want a pullback to sell high, or a breakout thru the lows
- Bulls want a reversal back up into the range.
- Beware the ‘fake-out breakout’ with major support below.
Crude Oil Futures (CL):
Crude Oil is bearish with a strong run lower today, finishing right on major support.
Sellers will be looking for pullback entries and a retest of the low, while buyers look for a reversal back up into the range above.
Keys to Success:
- Strong move down, range breakout, support trend-line, major support
- Bears want a pullback into resistance, or a breakout going lower.
- Bulls want a reversal back into the range above
- Beware the ‘fake-out breakout’ with major support below.
