4 Pullback Opportunities | Crude Oil, Gold, E-mini & Euro Futures 03/29/16

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“One reason so few of us achieves what we truly
want is that we never direct our focus; we never concentrate our power. Most
people dabble their way through life, never deciding to master anything in
particular.”

Notes for Tonight’s Newsletter:

Crude
Oil is bullish ahead of inventory
news tomorrow and a new bull
channel tells us to use ‘rotation’
for the most reliable trading opportunities. 
We have a spike
& channel, trading range,
bull channel and the API
Support level to work with this evening. 
The spike & channel sent prices tumbling lower this morning and we
know that spike & channels love to correct back to the base of the channel
which will make for an excellent target for buyers.  The trading range tells us to look for bear-traps
at the lows and to use range-expansion
overhead for targets.  The bull channel
tells us to expect rotation from low up to high and the best trades will come
buying the lows of the channel.  The API
report this evening gives us a key support level at 38.21 which will be an
excellent place for buyers to get in on this move higher if they get the
opportunity.

E-mini
S&P is bullish with a completed measured-move
and three
legs higher today which tells us the most reliable opportunities will come
after a 2-legged-correction
back to support levels below.  We
have a bull channel, 3 legs higher, and a measured-move to work with this
evening.  The bull channel tells us to
most reliable opportunities will come back at the lows of the channel and we
can see an un-filled ‘gap’
at 35.00 that would be an ideal opportunity for buyers to get into this trend
at a much cheaper price.  The
measured-move and three legs higher today both tell us this market could be
viewed as ‘too expensive’ and traders will want to see a 2-legged correction
back to support levels before they look to buy this market tomorrow.

Gold
is bullish with a ‘double-overshoot’
of the channel highs which tells us that although this price may push higher,
the most reliable opportunity will be back at the channel lows tomorrow.  We have a bull channel,
measured-move,
double-up,
and a gap
to work with this evening.  The bull
channel has a ‘double-overshoot’ at the highs which will likely be sold by aggressive
traders but the conservative traders will be looking for a move back to the
lows where they can get into this trend at a lower price.  The Double-up resistance tells us buyers
should be taking profit here, however there is a triple measured-move waiting for
a target overhead if they don’t.  There
is a gap waiting to be filled back at 28.6 which would be the ideal scenario
for a 2-legged
correction off the highs.

Euro
is bullish with a massive overshoot
of the channel highs that turned into a spike
& channel which tells us exactly where to look for a pullback
and the next leg higher tomorrow.  We
have a bull channel, spike & channel, and falling
resistance on the chart this evening. 
The bull channel has a massive overshoot at the highs which tells us
this market is too expensive to buy right now, but with such a strong push
higher the buyers will likely try to use the channel high as support for
another try to re-test the highs.  The
spike & channel tells us to look for a correction back to the base of the channel
for the next leg higher, and if that fails we know to look for a move back to
the beginning of the spike.  The falling
resistance is a trend-line
that covers a few days and will be used as a target for the next leg higher
later in the session tomorrow.