Weekly Review 30 Jul – 3 Aug 2018 (Stock, Gold, Crude Oil markets)

S&P 500 futures broke 2806 resistance line and expected to challenged 2878.5 high. Trader can open a bull put spread trade with sell leg at 2790 and buy leg at 2770 to ride the momentum of the uptrend.

Screen Shot 2018-08-06 at 9.28.15 PM

Crude oil futures is expected to resume the uptrend after bouncing off the recent support at 67.15. Bull Put spread with sell leg at 67 and buy leg at 66 can be a good strategy to take up this high probability trade.

Screen Shot 2018-08-06 at 9.28.37 PM

Gold futures failed to rebound from the 200 week SMA and it may probably become resistance now. Suggest to close out all the long position and wait for a better trade setup to initiate the position.

Screen Shot 2018-08-06 at 9.28.52 PM

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5 thoughts on “Weekly Review 30 Jul – 3 Aug 2018 (Stock, Gold, Crude Oil markets)

    1. 67/66 will give u better premium if compare to 64/63, which means u have more cushion; but you are rite; the probability of success is lower; however my take is that if the trendline is broken (u can draw it by connecting the low) then u can probably take a small loss or maybe small profit due to time decay and exit the position. You don’t need to hold the position until matured

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