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Weekly Bonus Analysis [Video]
Weekly Bonus Analysis Video: S&P500 and WTI Crude (2 min 38 sec)
TEXT:
Hello everybody ..welcome to our Weekly Bonus Analysis Video ..I’m Stef Breschi and today is Saturday 12th September 2015Today we’ll be analyzing the SP500 and WTI Crude not the US Treasury Long Bond which we have analyzed only for our subscribers as we have a position in it.
S&P500Last week we anticipated price would trade inside a box range 1900-2030 but mid-week we revised it to a narrower 1900-1990. Price is right in the middle of this range now so nothing to do.
FOMC volatility will result almost certainly in a breakout of this range next week but right now we are not prepared to say which way it will go so we can only stand aside. Next resistance is at 2034 and support at 1830.
WTI CRUDEWe’ve had the big bounce which stopped at the $47 significant level and the 38.2 Fib level of the recent fall.
Price is forming a triangular consolidation pattern which should be seen as a bullish continuation so traders should look to go Long next week on an upside breakout of this triangle with the 50% Fib level as a first target which is around 50$.
Thank you for watching .. please take a look at our subscription service STTS (Short Term Trade Setups) which covers also gold and the major currencies and includes entry levels, stops and targets combined with our tried and tested risk management strategy
Come and find us on tff-onlinetrading/market analysis
Have a great week
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