July 23, 2015

5 Trades for a Summer-Friday | Crude Oil, Gold, E-mini & Euro Futures 07/23/15

“Develop an attitude of
gratitude, and give thanks for everything that happens to you, knowing that
every step forward is a step toward achieving something bigger and better than
your current situation.”
Notes for Tonight’s Newsletter:
We have another
exciting session ahead of us on Friday, and these STRONG
trends tell us to be ready for anything… I have a plan
are you ready?

Crude
Oil
is bearish and trading down to the lows of the long-term bear-channel.
 
Sellers are looking for opportunities up at resistance
levels
above, and buyers need to be patient for times when the sellers fail
at support levels as this price becomes oversold.
E-mini
S&P
is bullish, but the channel-overshoot
from earlier this week
tells us to stay patient for an overshoot on the opposite side before
looking for more buying opportunities on Friday.
Gold
is VERY bearish right now which means sellers are looking for opportunities at
resistance levels above
and buyers need to be patient to wait for the sellers to try-and-fail
and the range-lows because this is a strong bearish trend.
Euro
is bearish, but bullish in the short-term as it comes off the recent lows from
earlier this month. 
Sellers are taking every opportunity
to sell resistance levels overhead while buyers can look for opportunities to buy
support levels
during this correction.

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