August 20, 2015
- in Uncategorized by schooloftrade
4 Trades for Friday | Crude Oil, Gold, E-mini & Euro Futures 08/20/15
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Notes for Tonight’s Newsletter:
Crude Oil is inside a range, E-Mini S&P is oversold at the lows, Gold and Euro are bullish and pushing higher; Today’s reaction to the FOMC this week is setting-up for an exciting Friday session… are you ready?
Crude Oil is bearish and trading near major support levels; Sellers are looking for the best trades up at resistance levels overhead while looking for short-term opportunities with buyer-failures. Buyers will stay patient and look to buy seller-failures at support levels below.
E-mini S&P is bearish and trading at the lows of the long-term channel; We have an overshoot of the channel-lows which means sellers will start taking profit and buyers will be hunting for bargains. Buyers can look for seller-failures at short-term resistance levels overhead and sellers will stay patient for the correction up off these lows.
Gold is bullish after continues reaction to this week’s FOMC Meeting Minutes and extremely overbought; Buyers will stay patient for price to pull-back before buying more and sellers will look for opportunities to sell into buyer-failures on the way back towards the 200ema 1128.3
Euro is bullish and trading inside a channel; Buyers will look for buying opportunities at the lows of the channel while keeping an eye out of a spike & channel in reaction to today’s push higher. Sellers should stay patient for buyer-failures at support levels as we pull-back to channel-lows.
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