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Hey Traders,
The broader market closed higher last week with the S&P500 closing higher for the 6th consecutive week, Gold reaching all time high and the Dollar climbing higher.
Euphoria in the market is historically harder to spot as compared to capitulation and fear as it can last longer. With the sharp ascend throughout the market, market will definitely be vulnerable to any weaker reports.
Upcoming Economic Release:
S&P500 Futures
The S&P500 closed the higher for the 6th consecutive week. Bullish momentum remains strong and intact and short position should only be considered if price falls below 4950 region.
Dollar Index (DXY)
The United States Dollar Index continue to ascend towards key resistance region at 104.34. If momentum persists towards 104.34, price is likely to begin to stall or retrace.
Spot Gold
Gold pushed towards another record high, breaking past above 2700 level. Deviation from the weekly 50 exponential moving average is now at an elevated level where potential retracement could occur.
Trade Recap (Public Channel)
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Trade Recap (Private Channel)
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Trade Analysis / Setups
WTI - Front Month (Analysis 43-1)
Analysis: Price can be seen as extended on the daily time frame where we can potentially catch the retracement and if possible, a reversal.
Long opportunity: Long at market reopening as high risk trade towards 71.42 as Take Profit - 1 level.
2024 Market Order Signal Accuracy Accuracy: 100% Wins: 12 Loss: 0 |
2024 Market Order Signal Accuracy (Private Channel) Accuracy: 100% Wins: 11 Loss: 0 |
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