No Dubai surprises to look forward to in the am, but there are still 12 hours till the opening bell. Amazing how that was shaken off like a bad tackle. That is just a little taste of what is to come. If they are having CRE problems, just wait for ours to hit. It is only a matter of time. I still don't think they will let anything happen to the market (that they can control) till Xmas shopping season is done.
E mini 60m - Looking back on a 60m thru Thursday. ED down and a rising wedge up. Not much change from the close Friday. RSI is high and the 61.8% retrace is met.
DXY daily - Looking at the descending triangle (yellow). The only hick-up is the throwunder at the yellow circle. Looks to be nearing an end of the consolidation period. That top trendline is pretty solid.
Gold - /YG daily - I stretched it back this time so you can see the rising wedge and the possible throw over. Yellow box is the retracement zone and the yellow line is the 38% retrace. Looks like 1085 will be a good target soon if not worse. They were surprisingly dumping gold as well Friday morning which should be noted.
Natgas daily - RSI is toppy and resistance is near. I'd be cautious if I were long here. I do NOT trust any counts on this one at all.
Oil - /CL daily - backed this one out as well. Yellow channel. pink channel and red support line. Gobs of support plus the 50ma. Yellow box is the retracement zone and thick yellow line is the 38% retrace.
EUR/JPY daily - broke green TL handily, but struggled to close under hte lower yellow wedge support. This thing almost puked all over the place Friday. Sign of things to come?
EUR/USD daily - Just riding the lower yellow trendline and the 50ma all the way up. I think the blue channel is more in play now than the yellow, but we'll have to see about that. If the 50ma goes this one will tank to the gray box.
Have a good night and GL this week. Happy holidays.
