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Bonds “US” (Jun)
Coverage for April 25
The reaction to Tuesday's econ data produced a new high for the month, following-through on Monday's signal and fulfilling the new long-entry parameter. The balance of the session consolidated around last week's prior high, but the rally's momentum remained intact and the stop was adjusted higher.
(Basis Jun) Long above 111'20 (met 4/24) for
112'04 and 113'00 targets,
111'16 stop
Crude Oil “CL” – mini “QM” – (May)
Coverage for April 25
After ranging around Monday's close through late-morning Tuesday, a steep drop ito the noon hour retraced all of Tuesday's gain back to Friday's close. The original long-entry parameter then held as resistance, so the rally's resumption all but requires that Wednesday's open gap up and trend higher throughout the day.
(Basis Jun) Long above 64'65 (met 4/23) for
65'50 (met 4/23) and 67'65 targets,
65'20 stop (met 4/24)
Gold “GC” – mini “YG” – (Jun)
Coverage for April 25
Tuesday's session slid sharply to fill the gap back to last Thursday's close, and to test the 685'00 short-entry parameter as support. Last week's higher high suffered a similar fate, and no new high has extended higher on the following day. Unless a gap open to new highs were to develop into two consecutive gains, a steep drop should be underway soon.
(Basis Jun) Short under 685'00 for
670'00 and 653'00 targets,
688'50 stop
PREVIOUSLY... (Basis Apr) Short under 651'50 (met 3/12) for
642'50 (met 3/14) and 630'00 targets,
644'50 stop (met 3/15)
Dollar “DX” (Jun)
Coverage for April 25
Monday's post-open pullback had stopped uncomfortably short of actually filling the open's gap, which would have made the session's positive close that much more bullish. There remained a risk of resuming the decline, and Tuesday morning's slide probed new lows. Most of the session was spent ranging around last week's prior lows as sellers still aren't gaining traction. The long-entry parameter has been adjusted down.
(Basis Jun) Long above 81'50 for
82'90 and 84'35 targets,
81'30 stop
PREVIOUSLY... (Basis Dec) Short under 84'90 (met 11/10) for
83'50 (met 11/24) and 83'05 (met 11/28) targets,
82'75 stop (met 12/8)
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