Weekly Review 11 – 15 Jun 2018 (Stock, Gold, Crude Oil markets)

S&P 500 futures formed a weekly doji after hitting the short term resistance at 2806. The index is expected to linger around this level with higher probability to the upside. 

Screen Shot 2018-06-17 at 3.01.23 PM 1

Crude oil futures dropped below 20 weekly SMA after failed to protrude 67.15 resistance last week despite several attempts. Suggest to liquidate all the position as the support has broken. Wait for a clear signal to re-enter the market. The next strong support 58.34 (50 week SMA) is a strong key support area.

Screen Shot 2018-06-17 at 3.06.26 PM

Gold futures ended at $1282. As it is near the bottom of the trendline, suggest to hold on to the position if position has been established last week. If there isn’t, then wait for a bullish reversal signal to initiate a bullish position.

Screen Shot 2018-06-17 at 3.10.47 PM

Advertisement

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s