Wed. Oct 27th, 2021

Note on graphics: It’s important to trade with a broker that offers New York Close Charts (a real 5-day chart that aligns with the real New York Close).
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Disclaimer: This should not be considered financial advice or a recommendation to trade or invest in any financial product. Your personal financial circumstances and risk limits have not been taken into account in the following analysis and comments.

CRUDE OIL – Futures

Key levels: $ 51.56, $ 53.81, $ 57.35, $ ​​59.16, $ 60.63, $ 62.23, $ 63.73, $ 66.22, $ 67.94

Price action: Yesterday, the price rose relative to the Bullish Pin Bar signal that had formed just above the short-term attendance level of $ 60.63 earlier this week (discussed in the April 27 bulletin). Earlier last week, the price initially broke above the key resistance range of $ 62.23 to $ 63.73, but later in the week it collapsed and closed below that again. rank.

Potential business idea: We are still considering long trades in a decline below the Bullish Pin Bar signal range, while the price remains above the key support range of $ 59.16 – $ 57.35.

NOTE – You can trade futures with CRUDE OIL through the trading platform we use HERE.

SPI 200 (Australian index 200): cash

Key levels: 6511, 6561, 6658, 6761, 6862, 6900, 6920, 7088

Price action: Yesterday, the price formed a Bullish Fakey setup just below the recent highs of all time (we had mentioned waiting for a Bullish Fakey setup from the recent Inside Bar pattern, which was discussed in the 27 d newsletter ‘April). The price had formed a bearish signal from the tail bar just below the recent historical highs at the end of last week (we mentioned that we would not consider changing this signal as it had formed close to the historical highs, it was against trend and was just above the main support area (discussed in the April 23 bulletin).

Potential business idea:

Business idea 1: We are considering long trading from the Fakey Bullish setup, while the price remains above the key support area 6862 – 6920.

Business Idea 2: We are still considering long trades in a lower deep setback and / or after a price action signal, in the main support area 6862 – 6920 or just above.

NOTE: You can change SPI 200 Cash through the trading platform we use HERE.

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Graph Comment Comment Disclaimer: Nial Fuller’s and Learn To Trade The analysis and comments that appear below the market should not be considered financial advice or recommendations for trading or investing in any financial product. Your personal financial circumstances and risk limits have not been taken into account in the following analysis and comments. This newsletter is for general educational purposes only. Do not buy or sell blindly the financial products discussed in this newsletter. Always do your own analysis and research and expressly consider the risks and rewards of trading or investing in any financial product.

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