Thursday 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.

All quiet on the Western front this morning – I was only able to dig up three measly charts of interest. Here’s the NQ which is approaching its upper 100-hour Bollinger and thus we should expect the possibility of a little reversal here. However, YM, ES, and TF are looking bullish, so don’t step in front of equities unless you see them stumble.

AUD/NZD at a stacked cluster of NLBLs – let’s see if it can hop across.

Crude still trying to find a direction – the 100-hour SMA is now in play and has thus far offered support. A tentative long here is permissible as long as that NLSL holds up. It’s not an easy setup as the 25-hour will most likely put up a bit of a fuss.

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Cheers,