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Trade ideas for this week in Gold, WTI Crude, Forex and Nasdaq [Video]

  • Emini S&P June futures made a high for the day exactly at strong resistance at 5145/55 & obviously this level remains key to direction for this week. 

  • Emini Nasdaq reached 17901 & we have resistance at 18050/18150.

Emini S&P has recovered all the losses & bounced 100 points to 5134.

  • I do not understand the bounce on a technical or fundamental basis, but it shows that bulls will not give up & will buy the dip.

  • We should have strong resistance again at 5145/55 on Monday & shorts need stops above 5165.

  • Targets: 5130, 5110, 5090

  • We should have support at 5050/5040 & longs need stops below 5025.

Nasdaq June futures caught me out as we shot higher to 17717.

  • I think we are probably forming a bear flag or possibly a head & shoulders & I must wait to see if the pattern develops.

  • We should find strong resistance at 18050/18150 & shorts need stops above 18300.

  • Targets: 17850, 17750, 17650.

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Author

Jason Sen

Jason Sen

DayTradeIdeas.co.uk

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