March 30, 2016
- in Uncategorized by schooloftrade
Watch for the correction | Crude Oil, Gold, E-mini & Euro Futures 03/30/16
“Life is a gift, and it offers us the
privilege, opportunity, and responsibility to give something back by becoming
more.”
privilege, opportunity, and responsibility to give something back by becoming
more.”
Notes for Tonight’s Newsletter:
Markets
continue to see increased volatility
this week as the month of march comes to an end, Janet put the next rate
increase off until June, and Friday’s
Jobs report is expected to be another strong showing for the US economy on
Friday morning.
continue to see increased volatility
this week as the month of march comes to an end, Janet put the next rate
increase off until June, and Friday’s
Jobs report is expected to be another strong showing for the US economy on
Friday morning.
Crude
Oil is bearish with a spike
& channel this evening which tells us the most reliable trades will
come after a correction
back to resistance levels overhead. The
spike & channel tells us to sell the highs of the channel for the first two
tests and then look for a correction back to the resistance
zone above the channel for a final opportunity back down again. We have the Inventory
News candle up at 39.17 which will be the last place to look for a bullish
correction and a ‘triple
down’ support level for a short-term target with plenty of prior swings
down around 37.00 if this market sells off tomorrow.
Oil is bearish with a spike
& channel this evening which tells us the most reliable trades will
come after a correction
back to resistance levels overhead. The
spike & channel tells us to sell the highs of the channel for the first two
tests and then look for a correction back to the resistance
zone above the channel for a final opportunity back down again. We have the Inventory
News candle up at 39.17 which will be the last place to look for a bullish
correction and a ‘triple
down’ support level for a short-term target with plenty of prior swings
down around 37.00 if this market sells off tomorrow.
E-mini
S&P is bearish after two days of aggressive buying and we see a new bear
channel which tells us to expect rotation
back to the low of day. The spike
& channel at the beginning of the day is failing which tells us there
is a bulls-eye back at today’s lows. The
bear-minor
channel has recently broken and the buyers failed to hold the pullback
which tells us the sellers are gunning for 51.50, and the new bear-major
channel is rotating off the highs with a target back at channel lows.
S&P is bearish after two days of aggressive buying and we see a new bear
channel which tells us to expect rotation
back to the low of day. The spike
& channel at the beginning of the day is failing which tells us there
is a bulls-eye back at today’s lows. The
bear-minor
channel has recently broken and the buyers failed to hold the pullback
which tells us the sellers are gunning for 51.50, and the new bear-major
channel is rotating off the highs with a target back at channel lows.
Gold
is bearish with a strong move lower today, but with two
legs down we will be looking for a short-term correction
higher for the most reliable trades tomorrow.
The bull-major channel
is quite obvious on the chart and tells us to sell the highs and take profit at
the lows using ‘channel
rotation’ however the bear-micro channel coming off the highs already has
two legs down which tells us the most reliable trades will be after a bullish
correction possibly back to the trading-range
overhead before we finish the move lower.
is bearish with a strong move lower today, but with two
legs down we will be looking for a short-term correction
higher for the most reliable trades tomorrow.
The bull-major channel
is quite obvious on the chart and tells us to sell the highs and take profit at
the lows using ‘channel
rotation’ however the bear-micro channel coming off the highs already has
two legs down which tells us the most reliable trades will be after a bullish
correction possibly back to the trading-range
overhead before we finish the move lower.
Euro
is bullish after testing key
support this evening but there is a recent bear channel
trying to drag this price lower so the buyers need to act fast before this
market collapses back to the lows. We
can see two possible channels on the chart this evening with the most recent
channel trying to drag this price back to the lows. Over the last few hours the buyers tried to
hold at the highs and they failed, and they are getting one more chance to take
control but they better hold this pullback
or this market is going back to the lows from earlier today.
is bullish after testing key
support this evening but there is a recent bear channel
trying to drag this price lower so the buyers need to act fast before this
market collapses back to the lows. We
can see two possible channels on the chart this evening with the most recent
channel trying to drag this price back to the lows. Over the last few hours the buyers tried to
hold at the highs and they failed, and they are getting one more chance to take
control but they better hold this pullback
or this market is going back to the lows from earlier today.
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