Hello, Adam Hewison here for MarketClub. Watch what's happening right now in the markets ...
S&P500: -70. Market very oversold. Long term uptrend remains intact. Market at the lower end of the Donchian Channel. Neutral - Trading range
Silver: Score -70. possible bullish divergence on the Williams %R indicator.Major resistance at $39.50.Support at $32.00.
Gold longer term trend still positive. Score +55. Support at $1,462.50. Resistance at $1,526.Trading Range
Crude Oil: +55 neutral Trading range. Long term indicator remains positive. Possible bullish divergence on the Williams %R indicator.
The Dollar Index: Score +70. In a trading range with the longer term outlook remaining negative.Possible negative divergence. Look for a pullback?? Major resistance remains at 77.50.
The Thomson Reuters/Jefferies CRB Commodity Index: Score -70. Near-term resistance at 348.50. Support at 333.50.Market very oversold on hedge fund liquidation.
All the best,
Adam Hewison
President of INO.com
Co-founder of MarketClub
Hello, Adam Hewison here for MarketClub. A lot has happened since I've been gone, but it's time to focus on what's happening right now! Here is a preview of what's ahead for your 1PM market update for Monday the 16th of May.
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Consumers blame oil companies, oil companies blame the politicians, and the politicians blame foreign countries. Yes, we’re talking about the price of gas, or crude oil if you will. If you have been trading the black gold, you may be laughing all the way to the bank right now. However, the average American isn’t laughing at all. I think it's safe to say that no one likes to feel like they are being robbed at gunpoint every time they fill their tank.