Engaging in a bit of speculation here……….
Trump fires Bolton………
It looks like NQ traders have a sharper intel guy with Oval Office ties than CL traders.
NQ turned higher at 8:45 AM Pacific time.
CL started down at 8:54 AM Pacific time.
Hard to tell, but I am always ready to see the White Sox throwing the World Series!
LOL!
GC has just hit its ‘contract high’ in the front month 08/12/2019, contract highs and lows are a very important level.
Such as a contract high ‘target’ hit in NG 10/02/2018, these levels are associated with over head supply or an extreme demand element towards value.
Observe all the majors in the currency markets (AD,BP,CD,EC,DXY.JPY) have been in a long term trading range, this action moves options traders into ‘selling options to collect option premium’ over a greater the average normal length of time during such a trading range. It moves the general thinking of the markets towards a passive type of outlook to earn.
Observe the long term trading ranges in the SPX,INDU or major indexing of the stock market where you will find the front future ‘contract lows now at the Xmas’ pass low point.
The coming GC ‘higher 20 trading day low point in the front GC Z19 contract is a very important level of support.
The GC target of 2039 level may become an important flash card, or tell of a greater than average shift in all markets, and can take place rather fast because of the setup mention above.
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Engaging in a bit of speculation here……….
Trump fires Bolton………
It looks like NQ traders have a sharper intel guy with Oval Office ties than CL traders.
NQ turned higher at 8:45 AM Pacific time.
CL started down at 8:54 AM Pacific time.
Hard to tell, but I am always ready to see the White Sox throwing the World Series!
LOL!
GC has just hit its ‘contract high’ in the front month 08/12/2019, contract highs and lows are a very important level.
Such as a contract high ‘target’ hit in NG 10/02/2018, these levels are associated with over head supply or an extreme demand element towards value.
Observe all the majors in the currency markets (AD,BP,CD,EC,DXY.JPY) have been in a long term trading range, this action moves options traders into ‘selling options to collect option premium’ over a greater the average normal length of time during such a trading range. It moves the general thinking of the markets towards a passive type of outlook to earn.
Observe the long term trading ranges in the SPX,INDU or major indexing of the stock market where you will find the front future ‘contract lows now at the Xmas’ pass low point.
The coming GC ‘higher 20 trading day low point in the front GC Z19 contract is a very important level of support.
The GC target of 2039 level may become an important flash card, or tell of a greater than average shift in all markets, and can take place rather fast because of the setup mention above.
Have a great day Rick