Welcome to the weekend video update for trading on Monday. Trader Rick starts with the eurostoxx 50 weekly chart and discusses the significance of price trading outside its upper keltner channel last week and also the overhead resistance not far away. On the 2700 tick chart Trader Rick illustrates overhead resistance using the fib tool and shows you the first level of support.
The monthly Canada chart shows we are in the sell zone and it starts to become important to watch the price action while price is in the sell zone on the larger timeframes. The weekly chart shows either an abc in progress or….a dragon pattern could be forming which has important significance if it takes place. In the crude market last week price finally pushed thru the overhead resistance at 54.67 and is starting to approach a measured move target. Do you know what the target is?
On the monthly and weekly euro charts Trader Rick talks about what to look for in this market as momentum starts to pickup to the upside. Learn if the abcd pattern is still a possibility.
Trader Rick takes a quick look at the daily bond chart where previous support became resistance. Price couldn’t push thru the previous support and later last week price began moving to the downside.
See what lies ahead for the emini….it’s all in this video update. Good trading!
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