August 18, 2015
- in Uncategorized by schooloftrade
7 Trades for Wednesday | Crude Oil, Gold, E-mini & Euro Futures 08/18/15
“Remember where you have been and know where you are going. Life is not a race, but a journey to be savored each step of the way.”
Notes for Tonight’s Newsletter:
Bearish markets are telling us to keep looking SHORT tomorrow; Crude Oil rolled-over, E-Mini S&P is ready to fail at range-highs, while Gold and Euro are right where we want them to be… are you ready for Wednesday?
Crude Oil is bearish after rolling-over to the 10-15 contract which means sellers have new resistance levels to use overhead as we test the highs of the long-term bearish channel.
E-mini S&P is bearish after breaking the highs of the wedge and trading-range which means sellers will be looking for trades at resistance levels above and buyer-failures at support levels below.
Gold is bearish coming off the overshoot at channel-highs which means sellers are looking for opportunities at resistance levels as well as buyer-failures at support levels below.
Euro is bearish coming off the range-highs but we are trading at some very important support levels this evening so we expect to see a bounce higher before this price goes lower.
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