Our Post-Market Reports offer reliable analysis of the short and longer term trends, and also reviews any key details of the intraday session, while also providing forward-looking and actionable analysis.
Crude Oil finally saw a close outside of the tightly-coiled 9-day range, which suggests further downside expansion into our primary weekly ADR bear target of 48.70. Keep an eye on 51.21. Failure to hold below that level will suggest a return to 53.83.
From July 09, 2015: “Bears continue to have the upper hand and are currently offering the previous week’s close of 1163.50 for a shot at breaking support through 1145, with targets at 1131.40 and 1119.50.” Gold finally reached our downside targets in one fell swoop, and bottomed out at the 1080 level. The recent impulse move from 1205.70 to 1080 could be the beginning development of a new key range. Bulls want to defend a pullback to 1186.50 for a shot at returning price to between 1142.80 to 1145.
The NQ remains within the boundaries of the recent 3-week trading range, which spans from 4455 to 4555. Major expansion of 200 to 220 points is forecasted once a breakout from this range occurs. Failure to hold above 4455 suggests a return to value at 4428, with a shot to see 4400.
Gold bears continue to defend value at 1204.10, which implies further downside price discovery into 1178 and 1170. Bulls will look to defend a move into 1178 for a return to 1204.10.
ES bulls continue to defend the minor CLVN at 2099-2100 for a shot at 2127.50. Failure to hold 2099 opens up a retest at 2080.75.
