8 reasons to stay short on wed | schooloftrade newsletter 09/23/14
DESCRIPTION
Gold: • 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.TRANSCRIPT
