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Commentary Disclaimer: This shouldn’t be thought-about monetary recommendation or a advice to commerce or put money into any monetary product. Your private monetary circumstances and threat limits haven’t been considered within the beneath evaluation and feedback.
CRUDE OIL – Futures
Key ranges: $51.56, $53.81, $57.35, $59.16, $60.63, $62.23, $63.73, $66.22, $67.94
Worth Motion: Yesterday, worth moved greater from the Bullish Pin Bar sign that had shaped simply above the $60.63 short-term help stage early this week (mentioned in April twenty seventh e-newsletter). Early final week, worth initially broke above the $62.23 – $63.73 key resistance vary, however later within the week, collapsed on itself and closed again beneath that vary.
Potential Commerce Thought: We’re nonetheless contemplating buying and selling longs on a retracement decrease to throughout the vary of the Bullish Pin Bar sign, while worth stays above the $59.16 – $57.35 key help vary.
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SPI 200 (Australian 200 Index) – Money
Key ranges: 6511, 6561, 6658, 6761, 6862, 6900, 6920, 7088
Worth Motion: Yesterday, worth shaped a Bullish Fakey setup slightly below the current all-time highs (We had talked about ready for a Bullish Fakey setup from the current Inside Bar sample – mentioned in April twenty seventh e-newsletter). Worth had shaped a bearish Tailed Bar sign slightly below the current all-time highs late final week (We talked about not take into account buying and selling this sign because it had shaped close to the all-time highs, was counter-trend, and was simply above the foremost help zone – mentioned within the April twenty third e-newsletter).
Potential Commerce Thought:
Commerce Thought 1: We’re contemplating buying and selling longs from the Bullish Fakey setup, while worth stays above the 6862 – 6920 key help zone.
Commerce Thought 2: We’re nonetheless contemplating buying and selling longs on a deep retracement decrease and/or after a worth motion sign, at or simply above the 6862 – 6920 main help zone.
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Chart Commentary Disclaimer: Nial Fuller’s and Be taught To Commerce The Market’s evaluation and feedback beneath shouldn’t be thought-about monetary recommendation or a advice to commerce or put money into any monetary product. Your private monetary circumstances and threat limits haven’t been considered within the beneath evaluation and feedback. This article is for basic instructional functions solely. Don’t blindly purchase and promote the monetary merchandise mentioned on this e-newsletter. All the time do your individual evaluation and analysis and be expressly conscious of the dangers and rewards in buying and selling or investing in any monetary product.
