Crude Oil is pushing into the overall TZ to sell back to the lows and we are catching some resistance here. I am looking to sell this market down to 106.70 – 106.00 first and then further to the wedge lows. If we continue higher, I will also be looking for longs as we have just gotten a nice cross up. I will be targeting 108.83 to the top side.
The Euro is sitting at the top of its minor channel highs. I am looking to sell this back to the wedge and channel lows down at 1.3138. We do look like we are having a hard time pushing lower so I will also be looking for long trades if we push higher. I will be looking to target 1.3198 – 1.3227 to the top side.
Gold is pushing towards the wedge lows at the moment where we should see a bit of a bounce. I am looking to sell this move lower into the wedge lows before looking for long opportunities to take this back to the wedge highs and possibly higher for a blow-off to 1415.0 – 1416.4.
The Russell is range bound HARD. We are currently smack dab in the middle of that range as well so I will be sitting on hands until we can get a decisive move up or down. I would like to see us test the buy zone below us or the sell zone above us before looking to enter. As this is a range bound market, we may see nice opportunities on the PRZ as that is a reversal trade.
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