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Commentary Disclaimer: This shouldn’t be thought-about monetary recommendation or a suggestion to commerce or spend money on any monetary product. Your private monetary circumstances and danger 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
Value Motion: Yesterday, worth moved larger from the Bullish Pin Bar sign that had fashioned simply above the $60.63 short-term assist degree 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 inside the vary of the Bullish Pin Bar sign, while worth stays above the $59.16 – $57.35 key assist vary.
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SPI 200 (Australian 200 Index) – Money
Key ranges: 6511, 6561, 6658, 6761, 6862, 6900, 6920, 7088
Value Motion: Yesterday, worth fashioned a Bullish Fakey setup slightly below the latest all-time highs (We had talked about ready for a Bullish Fakey setup from the latest Inside Bar sample – mentioned in April twenty seventh e-newsletter). Value had fashioned a bearish Tailed Bar sign slightly below the latest all-time highs late final week (We talked about not take into account buying and selling this sign because it had fashioned close to the all-time highs, was counter-trend, and was simply above the key assist 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 assist 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 assist zone.
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Chart Commentary Disclaimer: Nial Fuller’s and Study To Commerce The Market’s evaluation and feedback beneath shouldn’t be thought-about monetary recommendation or a suggestion to commerce or spend money on any monetary product. Your private monetary circumstances and danger limits haven’t been considered within the beneath evaluation and feedback. This text is for normal academic functions solely. Don’t blindly purchase and promote the monetary merchandise mentioned on this e-newsletter. All the time do your personal evaluation and analysis and be expressly conscious of the dangers and rewards in buying and selling or investing in any monetary product.