Welcome to the video update for Monday, July 6th. Trader Rick begins with the eurostoxx 50 weekly chart where price is in the buy zone, setting up a 3x trend method opportunity. Support level and the weekly buy signal are provided. Note what the MACD is telling traders what to look for. For DAX traders, a weekly chart is reviewed. Price is also in the buy zone in this market.
The weekly Canada chart is very interesting as a possible dragon pattern is developing. Be sure to look at what price action is telling us. Next up is the monthly crude chart where price is in the sell zone. Make a note to see where this market closes at the end of July. What is the weekly oil chart telling us? Bearish or bullish?
The euro monthly chart gives the big picture for position traders. Note where price is here. The weekly euro has been going sideways for 4 weeks now. Trader Rick is still watching the ab=cd pattern in this market.
Trader Rick updates the daily bond chart and if the ab=cd pattern is still in play. The weekly bond chart is also updated.
Finally, the dow and the ES charts are discussed. The monthly Dow is very intersting on a big picture look. What is the MACD telling us? Be sure to check out what Trader Rick has to say about the current status of the ES market. Couple of interesting possibilities!
Good trading!
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