T rade Perimeters:
Given the underlying trend developing we hold a short-term bearish view on crude. US Crude oil has extended its decline from the early October high’s, and clearly has not helped by a monster 9.88m build in the weekly API inventory report. All eyes now fall on the more official DoE inventory report at 01:30AEDT, and we look for an extension of...
Trade set up - We have gold on ‘high watch’ and really waiting for a price to give us a higher probability set-up.
There is a confluence of resistance levels seen on anytime frame above the 4-hour. We are most interested in the 2017 double top neckline, 38.2% fibo of 2018 sell-off and recent daily high between 1238/40. Let price push the trade, so, a closing...
Trade Idea - USDCAD is finding buyers easy to come by after the FOMC minutes, married with a poor tape in US crude. Technically, the pair looks set for a test and potential breakout of the June downtrend, but as things stand, both the technical set-up and fundamental story are lining up for a long entry.
Parameters : Long at current market price 1.3023, SL -...
Trade set up - Enter only on a daily close above key horizontal resistance at 149.31, targeting longer-term price resistance around 155.00. Stops to cover on a daily close below 147.19.
Why we like this trade – Monday’s daily bearish engulfing candle confirms strong resistance and a willingness to fade moves into the 149 – 150 area, so tactically waiting for...
Trade set up – Given the elevated implied volatility in markets (the VIX index sits at 22%) and the potential for further liquidation from systematic funds, it's hard to be long US equity indices. With that in mind, our preference, at least in the short-term, is to sell strength until price can close above the 5-day EMA.
That said, with the technical damage in...
