Reversal Pattern On Crude, Gold Trading Sideways At All Time Highs

Gold Futures:

– Gold Futures are trading sideways at the all time highs, and we cant do very much b/c the only opportunity to buy is right in the middle of this narrow trading range.

o Best option on gold is to wait for the re-test of the highs or the lows and look to sell the 73.4 and buy 65.8



Gold Futures

  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Crude Oil:
 
– Crude Oil is setting up for a reversal pattern using the 2-step entry.

– Watching my 13 range chart on crude oil, I can see overhead resistance at 50’s so this entry needs to be higher than 50 to be the best trade opportunity.

o Targets are ½ @ the trend line around 65, ¼ @ the big round number 75.95, and then soft final target @ 76.40, but look to hold this trade up to 76.95 with good speed of the tape and buyers.



Crude Futures



Crude Oil Up-Date:

-Crude Oil Up-date:  We now have a breaker long pattern on crude oil setting up with entry above 74, and targets ½ @ 95, ¼ @ 40, and then final target ¼ @ 76.95



Crude Up-Date



Russell Futures:

– Russell is trading at the highs of the wedge pattern around 646.0, so im looking to sell these highs.

o We have support at 45.3 so be aware of that level on this short trade.

Russell Futures