Weekly Review 4 – 8 Jun 2018 (Stock, Gold, Crude Oil markets) – Part 1

S&P 500 futures broke the symmetrical triangle decisively after few weeks of side way movement. Trader can wait for the pullback to 20-SMA to initiate a long position.

Screen Shot 2018-06-10 at 9.13.04 AM

Crude oil futures pulled back to $65.56 after hitting a recent high at $72.9. Trader can still hold the position as the 20SMA and weekly support trendline are still defending well. Trader should liquidate the position if both supports are broken.

Screen Shot 2018-06-10 at 9.23.27 AM.png

Gold futures ended at $1303.5. After hitting $1281 (support trendline) few weeks ago, the index trended slightly upward by ending the subsequent weeks in higher low. The upside is favourable with high probability.

Suggestion: Options trader can consider to initiate bull put spread at 1300 (Put side) & 1290 (Call side) using Aug18 contract.

Screen Shot 2018-06-10 at 9.35.52 AM

 

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