In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we discuss further breakouts in Indices and commodities.
We start off by taking note that tomorrow we have one of the biggest news events of the quarter. The Fed is expected to increase interest rates by 25 basis points in tonight’s meeting. As a result, we discuss today’s signals with that in mind.
If we see a continuation to the downside below yesterday’s low in the US indices, this would give us some great selling opportunities. However, do not hold this trade going into the FOMC news event.
Looking at the Commodities markets, we have identified a really strong trade to the upside in Gold, but we would want to see prices break above the recent high of 1250.80 for us to get into it. Similarly, in the USOil, we saw a really strong move lower as discussed in yesterdays video. So, we expect continuation lower below yesterday’s low of 45.84.
Further Breakouts in Indices and Commodities – Full Video Analysis
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