Crude Still Vulnerable?
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.
Although September bonds
(
USU1 |
Quote |
Chart |
News |
PowerRating) closed poorly, they still look like they
have the potential to resume their uptrend out of a pullback. Look for a buying
opportunity here but wait for follow through to the upside.
September crude
(
CLU1 |
Quote |
Chart |
News |
PowerRating) appears to be stalling out in its rally from
lows. This action suggests that its longer-term downtrend remains intact.Â
Best of luck with
your trading on Friday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!
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