I am thinking a spike above and a spike below the main channel this afternoon with more resistance showing than support so guessing at a small drop into the close. Then who knows how crazy it will get during the overnight sessions.
Oil- kemp at Reuters said Hedge Funds are continuing to get out today and have dropped Brent time spreads hard. Wondering if today is a longer term marker on the chart with algos reacting to an amazing inventory report then actual people reacting to the situation on the ground and the president's tweets.
Full disclosure I have read many articles on how the gulf kingdoms have funded the war in Syria to remove Asad and get a major gas pipeline built across the Med to Europe. Wondering if Trump will try to cut a deal with Putin to allow the pipeline and give the Russians something in return. It would make sense given his criticism of German dependance on Russian Natty.
Cletus showed us the island gap reversal this morning, something we who trade futures don't see. Unfortunately Bulkowski says it is the dead last pattern for reliability, both tops and bottoms. So no help in predicting tomorrow.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.