8 reasons to stay short on wed | schooloftrade newsletter 09/23/14
Post on 15-Jun-2015
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DESCRIPTIONGold: • Fundamental: Violence in Syria, combined with a growing concern over additional stimulus in Europe and Asia have traders seeking shelter in Gold Futures, which pushed prices to the highs of the range overnight. • Technical: Technical clues on the chart continue to tell us to stay short on Gold futures. We have lower-lows and lower-highs on our anchor charts, the only challenge we have this week is staying patient for the best selling opportunities. Crude Oil: • Fundamental: A strong US-Dollar, combined with a slowdown in the global economy has speculators selling Crude Oil. Fresh violence in the Middle East threatens to push prices higher off the lows ahead of Wednesday’s Inventory report. • Technical: Technical clues on the chart show us a bearish long-term-trend, however just recently we have seen a sideways-trading-range turning into consolidation with higher-lows and lower-highs. We are looking for selling opportunities at the highs of the ranges until we break this consolidation. Mini-Russell: • Fundamental: Long-term investors appear to be taking-profit this week as new concerns over the global economy have trades waiting for more information until attempting another run at the all-time highs we saw a month ago. • Technical: We have new lower-lows and lower-highs on the anchor charts, telling us there is a bearish trend. We are focused on selling retracements at this time, and our biggest challenge will be staying patient to wait for the best trading opportunities to get SHORT.
News for WednesdayCrude Oil 64 Anchor ChartCrude Oil 64 Anchor Chart 2Crude Oil 32 Anchor ChartCrude Oil 16 Anchor ChartGold 64 Anchor ChartGold 32 Anchor Chart 1Gold 32 Anchor Chart 2Gold 16 Anchor ChartRussell 64 Anchor ChartRussell 32 Anchor ChartRussell 16 Anchor Chart