Thursday Morning Briefing
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.
Crude is an light sweet spot this morning – just about to touch an hourly NLSL at 91.3 which also coincides with its 25-hour SMA. Great inflection point and I’ll expect some buying interest there. If not – down we go. It’s permissible to be long above the SMA – I realize that the hourly NLBL at 91.9 probably won’t be touched before it expires.
CAD/JPY – at its 100-hour SMA and also supported by two hourly NLSL below. Great spot to be long until a drop through 96.671 – the outlook switches to bearish there.
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Cheers,
