Intelligence
Crude Analysis (no pun intended)The Dragon is technically still in the belly (bearish trend), although a break above the ocean's surface will become a strong bullish signal. As long as the upward pitchfork (green) holds, stay long and enjoy the ride. Short term resistance at $52. Risk management is critical as always, but the Dragon Analytics System and pitchfork fibs provide clear and manageable levels. Good trading!
USD testing critical support levelA test and break of the 94 level will be very negative for the USD, perhaps the beginning of the move to 80-84. In the Dragon Analytics system, the oceans surface, represented by the red line and blue shaded area are high probability bearish patterns. Good trading!
Crude oil doesn't disappointIf you've been in on this move to the $48 level (green pitchfork, dashed gree line), don't be afraid to take some profits and wait for the next move to $50+. As long as the price holds (we don't pierce the Dragons head (yellow dotted Moving line)), the bulls are in control. Good trading
Long Crude TradeAs long as the downward pitchfork (red) failure holds, $58 crude in play, resistance at $54. Stop @ 46.79 for low risk (approx $1.10) trade. Good trading from MarketIntell.net
Copper futures ominous signal for equity marketsA break below 2.06 signals more downside potential for the equity indexes. Keep your powder dry until the market comes to you, but the Dragon is definitely seeking the ocean floor. resistance at 2.15. Technical Analysis by MarketIntell.net, home of the Dragon Analytics trading system and the Market Intelligence Service. Good Trading.