Saturday, March 16, 2013

Setups for next week

Sugar put in a false break out, it broke above the 19.03 level I pointed out earlier, and consolidated above the resistance area, but the last candle shows it clearly broke down below.

Gold has now consistently found sellers in the 1598 area, but AUD/USD breaking out indicates gold might follow. If it pulls back to the 1580 area, I'll be getting long. If it manages to break through 1598, will have a key level coming up around 1615-1620, where I'll short.

Dollar Index is close to support, so I'll be looking to get long here. 

Bean oil had a little false breakout as well, but I think it will indeed break back above the 49.9-50 area this coming week, so I'll be looking to get long if that happens, and short the 50.70 level instead. 

The 30 year bond has broken out of the recent consolidation levels, the next major resistance level I have is 142 '20-'24, which is also the daily 21EMA for now, where I look to short, atleast for a day trade.

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