We continue to believe that, no matter what kind of intradAy action we may see on a short-term basis, we remain in a distributive market phase and that we still have some unfinished business at December lows.
Remember that on top of the usual headline risk and ongoing Brexit Circus, we will see a pick-up in earnings and a lot of Central Bankers on the wires this week as we approach the G20.
As we will discuss and review today we have chosen Crude for the chart of the week and we would make sure to keep a very close eye on this as well and on USDCNH to get a feel for intraday momo and flows.
Note for active 50Scouts members: *make sure you read out latest update* and keep an eye on your inbox for a free pass to Friday’s daily webinar session (make sure to check your spam folder too).
If you are interested in a more structured way of tackling the
business of trading, attending a live daily morning call or a more
detailed discussion on the charts we post / trade ideas, don’t hesitate
to check out our Premium content.