Trading the OPEC Report
Wow, what a day in the markets! We got big moves on the charts today, but those trends wont last forever, and I have a reliable plan to trade the deep pullbacks and potential reversals coming tomorrow…
But the big clue for tomorrow is the OPEC Report, scheduled just before the US Session begins, which could easily reverse this bear trend, and I want you to be ready to capitalize – let’s go!
Will OPEC Throw Oil a Lifeline?
Crude Oil is bearish and sitting just below the $50 support level, which is the weekly lows, and a horrible place to start selling…
A better strategy is to wait for the bears to take profit, and wait to sell using a buyer-failure at the high of a hidden-channel.
And don’t forget the OPEC Report tomorrow morning, because that could easily reverse the trend and give us a short-covering rally to trade into the inventory report end of the morning.
Two Big Clues on the E-mini ES…
E-Mini S&P is bullish with a spike & channel into a trading-range on the chart tonight, telling me to look for buying opportunities after a pullback off today’s high…
The question, however, is how DEEP will it pullback? Because a shallow pullback will use a different entry set-up than a deeper pullback, and I want you to be ready.
Nasdaq Needs to Find More Buyers…
Nasdaq is bullish and pushing new all-time highs into the close tonight, which tells me to look for a deep pullback before I consider buying this market…
And the big clue is the wedge on the chart, telling me precisely where to find the best entries, do you see it too?
Gold Sitting on Major Lows…
Gold is bearish and sitting “three legs down” which is a big clue for a possible trading-range at the beginning of tomorrow’s session…
And that range makes our job easy; selling above the high using a buyer-failure or buying below the low using a crown-reversal.
