AvidTrader.com covers a wide variety of futures markets each session, throughout the day. Scroll down for today's free look and for a free two-week trial.
Bonds “US” (Jun)
Coverage for May 30
Tuesday's inside day was mostly under pressure. But the selling pressure was absorbed without producing a new low, so the bottoming scenario remains intact.
(Basis Jun) Long above 109'14 for
110'06 and 111'00 targets,
109'04 stop PREVIOUSLY... (Basis Jun) Long above 111'20 (met 4/24) for 112'04 (met 5/8) and 113'00 targets,111'16 stop (met 4/26)
Crude Oil “CL” – mini “QM” – (Jul)
Coverage for May 30
Tuesday's open gapped down under Friday's low and the balance of the session trended down sharply to test the month's low. Buyers weren't in control anyway, but now the question is whether sellers are still in control. Almost any lower close would trigger a steep decline.
(Basis Jul) Long above 63'85 (met 5/14) for
66'25 (met 5/18) and 68'00 targets,
66'30 (met 5/22) stop
Gold “GC” – mini “YG” – (Jun)
Coverage for May 30
Tuesday's open gapped up to the stop and extended higher to 662'00. The balance of the session fell back to test the stop as support, which remained triggered.
(Basis Jun) Short under 685'00 (reinstated 5/9) for
666'50 (met 5/10) and 648'00 targets,
657'00 stop (met 5/29)
Dollar “DX” (Jun)
Coverage for May 30
There wasn't much excuse to further delay the rally's resumption, and sellers were gaining traction, so Tuesday's open gapped down sharply and probed last week's low. The balance of the session bounced enough to fill the gap back to Friday's close, but the bounce didn't extend into positive territory to signal a correction had ended.
(Basis Jun) Long above 81'50 (reinstated 5/16) for
82'90 and 84'35 targets,
82'25 stop (met 5/29?)
PREVIOUSLY... (Basis Jun) Long above 81'50 (met 4/26) for
82'90 and 84'35 targets,
81'95 stop (met 5/15)
AvidTrader.com covers a wide variety of futures markets each session, throughout the day. Try all daily research in real-time without interruption for two weeks free by clicking here now.
Please note: The information contained on Avid is for informational purposes only. Aggressive trading strategies call for aggressive trading tactics such as well-defined entry and exit points, prudent money management and close monitoring of any open positions. The intellectual and emotional stimulation of fast-paced trading can be addictive, profitable or not.
