Last week was whip-saw city for many markets. I suspect traders are tired so we’ll end up with many markets just doing trading-range things…
Commentary
- GC: Sell divergences on the daily. Also looks like positive consolidation so they might not lead to too much of a flush.
- SI: Same as gold above.
- ZB: Might finally be ready to consolidate.
- ZC: Bouncing from an area of major support. If that gives, look out below.
- LC: Bounces are shorts.
- LH: At critical point. Given that LC is in a major downtrend, LH might break as well.
- CL: Middle of massive daily range and will likely be ping-ponging around in it for a while.
- NG: In a weird hourly ascending channel after bouncing from support.
- EMD/ES/NQ/YM: z-day, middle of daily range and push into a resistance pocket area. 2 days up might lead to a flush.
- EC: Bouncing from support – probably good to try the long side here.
- BP: Almost back to the daily ema where a grail sale would trigger.
- PL: ABC down – buy flushes.
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