Hello traders everywhere, Adam Hewison of INO.com just finished his 1 p.m. Market Update for Tuesday the 14th of June.
To see the full video just visit INO TV, its FREE and will give you unique daily insight into current markets and seminars from market legends. Okay, now here's a brief of what’s happening now in the major markets:
- SP 500: -60. This market remains in a broad trading range with resistance coming in beginning at 1296 and 1305 and finally 1315 which represents a 62% Fibonacci retracement. Major downside support is at 1250.
- Silver:-60. Currently this market is oversold however it is in the state of flux with no clear trend. We would use the Don Chin channels and the fact that this market is oversold and expect to see a bounce from current levels. Major Support at $34.00.
- Gold: +55. Gold is currently oversold and we would cool for cool he is is a are slow to reduce this prison abuse or her will way expect to see some further either sideways action or a move to improve levels. The Donchian channel comes in at 1503. Major support at $1,500.
- Crude Oil: -60 Trading range. Long term indicator remains positive. Support coming into this market at $96 a barrel market is currently oversold. Choppy market.
- Dollar Index: -85. The longer term and mid term Trade Triangles remain in a negative position. Resistance now at 75.00 and 76.50. Minor support at 73.50 Major support at 73.00.
- Thomson Reuters/Jefferies CRB Commodity Index: +55. Near-term resistance at 350.00. Minor support at 340. Major support at 335.00. Trading range.
Yesterday he showed us how to find winning trades using trade triangle technology. The market he found yesterday was at FCS which is the symbol for Fairchild semiconductor. This market is higher today however it is still in a negative zone.
Let's see what else Adam finds using MarketClub's Trade Triangle technology today, just click here for instant access.