Welcome to the video update for this week’s trading. First chart Trader Rick discusses is the weekly eurostoxx 50 chart. Price is approaching important resistance. Do you know what hidden divergence is? Trader Rick shows an example of hidden divergence on the weekly chart.
On the weekly Canada chart, Trader Rick updates the dragon pattern from last weekend’s video update. Is it still valid? On the Canada daily chart price is dipping in to the buy zone but is there divergence? What is the MACD indicator showing?
As gold approaches the $1000 level see what price did this past week? Did price close higher or lower than the previous week? See what two patterns Trader Rick is watching in this popular market.
In the weekly euro currency market, Trader Rick updates the ab=cd pattern and where support may be if tested. The daily chart shows a possible 1-2-3 pattern. See what the two targets are for this pattern. Trader Rick dials down to a 13500 volume chart in the euro and shows a possibly important fib level to watch.
In the crude market, the weekly chart is approaching the .38 fib level. The trend in crude has been strong but do you know where the overhead resistance levels are?
In the bond market, price is approaching important support levelson the weekly chart. See the intraday chart for an important overhead resistance level that was previously support. Check them out if you are a bond trader!
S&P cash and the ES weekly chart are the last charts Trader Rick discusses.
Remember, the stock index futures roll over to the September contract this Thursday and the currency future markets begin rolling this week to the September contract too.
Good trading!
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