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.