As we outlined the scenario’s in our end of day subscriber note yesterday, we highlighted a few options and it seems like option #2 was the go with as a slow bid grind all day has been since the EU open lows! Anyway you know our pivot its 3064 above we risk a move to upper end of the channel at 3084, below, well it wouldn’t shock us to see a quick move to 3040, but we think the window dressing scheme is clearly the agenda for Q2 today. Here is the chart, the channel is still bearish however:
-Econemotions
DISCLAIMER: For educational purposes only. This is not a solicitation to buy or sell commodity futures or options on neither commodity futures. The risk of trading securities, futures and options can be substantial and is not for everyone. Such investments may not be appropriate for the recipient. The valuation of futures and options may fluctuate, and, as a result, clients may lose more than their original investment. Nothing contained in this message may be construed as an express or an implied promise, guarantee or implication by, of, or from the author Michael Agne owner of Magnelibra Capital Advisors. All rights are reserved. We will never claim that you will profit or that losses can or will be limited in any manner whatsoever. Past performance is not necessarily indicative of future results. Although care has been taken to assure the accuracy, completeness and reliability of the information contained herein, we make no warranty, express or implied, or assume any legal liability or responsibility for the accuracy, completeness, reliability or usefulness of any information, product, service or process disclosed.
Option #2 Grinding Bid Equities
As we outlined the scenario’s in our end of day subscriber note yesterday, we highlighted a few options and it seems like option #2 was the go with as a slow bid grind all day has been since the EU open lows! Anyway you know our pivot its 3064 above we risk a move to upper end of the channel at 3084, below, well it wouldn’t shock us to see a quick move to 3040, but we think the window dressing scheme is clearly the agenda for Q2 today. Here is the chart, the channel is still bearish however:
-Econemotions
DISCLAIMER: For educational purposes only. This is not a solicitation to buy or sell commodity futures or options on neither commodity futures. The risk of trading securities, futures and options can be substantial and is not for everyone. Such investments may not be appropriate for the recipient. The valuation of futures and options may fluctuate, and, as a result, clients may lose more than their original investment. Nothing contained in this message may be construed as an express or an implied promise, guarantee or implication by, of, or from the author Michael Agne owner of Magnelibra Capital Advisors. All rights are reserved. We will never claim that you will profit or that losses can or will be limited in any manner whatsoever. Past performance is not necessarily indicative of future results. Although care has been taken to assure the accuracy, completeness and reliability of the information contained herein, we make no warranty, express or implied, or assume any legal liability or responsibility for the accuracy, completeness, reliability or usefulness of any information, product, service or process disclosed.