Welcome to the video update for Thursday, April the 1st. A reminder that the front month in gold is now June. No April Fool’s! Also, due to a US holiday the markets will be closed on Friday.
First chart up is the monthly crude oil chart where the month of March finished as a doji with a very very small range. We are still watching the possibility of a slingshot forming. On the daily crude chart, price may be moving to the upside. See what the D target is of a possible ab=cd pattern.
Trader Rick next looks at a 60 minute EUR/USD pair chart. Price is currently in the buy zone. If you trade the EUR/JPY forex market be sure to take a look at the weekly chart where price is now in the sell zone with overhead resistance nearby.
Next are the monthly index charts. Trader Rick goes thru the monthly for the S&P cash, Dow, NQ, ER and the ES with a few intraday charts worth mentioning.
Good trading!
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Tags: ab=cd pattern, doji, slingshot
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