CRUDE OIL – FUTURES
Price Action: Price formed a small bullish Pin Bar signal just above the $73.07 – $74.96 short-term support zone, overnight.
For now, the $73 level is a line in the sand for Bulls in this market.
From the last few weeks, price had significantly moved higher from the Bullish Fakey Setup + Pin Bar Signal, that had formed just above the $62.63 key support level, over a month ago (We did mention buying from those levels in the December 1st, 2021 Market Newsletter)
Potential Trade Idea: We are considering trading this small bullish Pin Bar signal, whilst price holds above the $73.00 short-term support level.
NOTE – You can trade Crude Oil futures via the trading platform we use HERE.
GOLD – SPOT
Price Action: Price had moved up higher from the recent bullish Pin Bar signal that had formed just above the $1789 short-term support level (We were not interested in this signal at the time).
This market is looking bullish but overall we are in a broader sideways range (Zoom out to see). We are tentatively bullish above the $1752 – $1764 key support range.
NOTE – You can trade Spot GOLD via the trading platform we use HERE.
SPI 200 – CASH
Price Action: Price exploded higher through the 7485 short-term resistance level and closed convincingly above it, overnight.
Potential Trade Idea: We are looking to buy on a pullback, and after a price action buy signal, whilst price holds above the 7485 short-term support level.
NOTE – You can trade SPI 200 cash via the trading platform we use HERE.
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Chart Commentary Disclaimer: Nial Fuller’s and Learn To Trade The Market’s analysis and comments below should not be considered financial advice or a recommendation to trade or invest in any financial product. Your personal financial circumstances and risk limits have not been taken into consideration in the below analysis and comments. This newsletter is for general educational purposes only. Do not blindly buy and sell the financial products discussed in this newsletter. Always do your own analysis and research and be expressly aware of the risks and rewards in trading or investing in any financial product.