Crude Remains Constructive
Each evening we
focus on the most interesting aspects for the upcoming
trading day. The comments are based on observations of the
nightly updates of the Futures and Market Bias pages. They
are provided for educational purposes only and are not
intended to be direct trading advice. Also, keep in mind
that these remarks are made up to 12 hours in advance of the
markets opening. Therefore, overnight events may alter the
outcome of these observations.
July (or June) crude
(
CLN2 |
Quote |
Chart |
News |
PowerRating), mentioned recently, still looks like it has the
potential to rally out of a loosely-formed cup and handle.
July corn
(
CN2 |
Quote |
Chart |
News |
PowerRating) is in its first pullback since its recent melt-up from
life-of-contract lows.
Follow Up/Looking Ahead
June gold
(
GCM2 |
Quote |
Chart |
News |
PowerRating) broke out nicely to new highs on a wide range. If you
have profits here, you might want to look to lock in a piece. Also, in light of
this action, it could set up again on the next pullback.
The Dollar continues to slide. Once again, this could set up opportunities
in the inverse currencies soon.
Best of luck with
your trading on Tuesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!