Friday Morning Briefing

Welcome to our morning briefing. Here we are reviewing short term setups ahead of the NYSE opening bell. If you are a scalper or swing trader then these setups may be of interest to you. As usual keep in mind that these are short term setups although they could be used as early entries for more longer term positions.

Equities have been running in circles for the past few days and after an overnight drop our RTV Sell seems to be back in the running. But we are far from being out of the woods – a breach has to materialize or this will most likely wind up to be a sideways correction.

Silver attempting to find some ground at its 100-hour SMA – let’s see if she holds there. The upside shows us a hurdle via an hourly NLBL near 22.645.

Bonds – great setup – it just got rejected by its 100-hour and is driving lower only to encounter a stack of fresh NLSLs there. I am very much looking forward to seeing resolution as the 100-hour is still falling and things are coming to a point.

GBP/USD – still clinging to its 25-hour SMA. Decent long right now as long as the current low of 1.51981 remains in place. Or use the SMA but it has higher odds of slicing through it based on prior occurrences.

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Cheers,