Patience Pays Off, Patterns On Crude Oil Setting Up

Crude Oil Futures:

We’ve had to wait a little longer than we planned this morning, but we finally see a few decent patterns on the crude oil futures.

Im looking to sell the highs of the trading range on the 21-range chart, looking to get short below 82.21

I will take profit above the big round number 82.05 (1/2), and then at the bottom of the wedge we will take profit just above the trend line (1/4) , and then if we can break out below the trend line look for the final target at the current low of day 81.65 (1/4)

Gold Futures:

We’ve finally broken the wedge support on gold below 1202, and now im looking for the break below 1200 big round number to sell short.

I see a 2-step short entry below 1200, but make sure we REALLY see sellers at 1200 to confirm your entry.

Take my first profit target @ 98.0 (1/2), and then my second target is the next swing low at 96.5 (1/4) and then all the way down to 94.3 for my final 1/4 of profit.

I’m going to use my 4R chart for entry with my target at the high of this wedge @ 04.8

Euro Futures:

Look for those large sellers to enter the tape below 3129 for your entry trigger, and then take profit at 3110 (1/2), 3100 (1/4), and then finally down to 3060.