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.
Not a short term setup but something I wanted to throw on your daily watch list for today and possibly tomorrow: Gold is budding against its 25-day SMA and a NLBL – at the same time it is testing its just a few ticks away from a falling 25-week SMA. So this could be good – the idea here is a long on a breach higher with a stop below the 100-day SMA (which is just a few ticks below the 25-day). Until that happens you can entertain short positions with little risk (i.e. a stop at our long entry trigger).
Silver also not looking so shabby as it’s kissing its 25-day SMA and a NLBL at 23.25 – I’m short here with a stop above the NLBL which however is also my long trigger.
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