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Market Analysis: Week of April 20th!

Last week was once again a text-book trading session especially for US indices, particularly the SPX500, Dow Jones and Nasdaq. In addition to indices, commodities such as Gold and Crude Oil played out according to the expected plan. In this week's post, we will update only their short-term charts.

To read last week's in depth analysis for SPX500 (CFD or E-Mini futures), Crude Oil and Gold spot then click here!

What do we expect from the markets this week?

E-Mini S&P500 Futures Chart - Apr 19

For those of you that love old-fashioned technical analysis then enjoy the following 240 minute chart. Comments are not needed considering the patterns are developing close to text-book as of now. The only complication may arise if we see SPX thrust strongly over 2930 upper-resistance and trade above this level for a few hours. Unless that scenario happens, we will short 2930 test.

E-mini S&P500 Technical Analysis and Trading Plan

Crude Oil Daily Chart - April 19

Looking to start the accumulation phase in Crude around $15-$12 mark in anticipation of a temporary bottom. In order to review our long-term perspective in this market then read this piece.

Crude Oil technical analysis & trading plan

Gold spot Daily Chart - April 19

The pattern is Gold is not that easy to perfectly label in higher timeframe, however the lower-timeframe charts helps us track the sub-wave structure of each move combined with Fib. retracement areas.

Gold Technical Analysis & Trading plan

Gold spot 4H Chart - April 19

For this coming week, we will be looking to play Gold scalps on the short side targeting a deeper pullback towards Fib zone 1600-1570. Therefore, we will look to short Monday's bounce (if we get one) around 1700-10 with risk above 1720.

Gold Technical Analysis & Trading plan

If you want to trade live with us during the week then get in touch.

Until then, safe trading!

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