Hello traders everywhere, Adam Hewison here co-founder of MarketClub with your 1 p.m. market update for Wednesday the 15th of June.
Okay, now here's what's happening right now in the major markets (click to watch the video)...
SP 500: -70. The market action today can only be described as negative. A score is now -70 and our downside target for this market is 1250. Major downside support is at 1250.
Silver: -70. I would watch this market very carefully today as I feel that it is probably at the lower end of its range. We would use the Donchian Channels along with the fact that this market is oversold and expect to see a bounce from current levels. Major Support at 34.00.
Gold: +70. Gold is currently oversold and we expect to see this market balance sometime in the near future. We would not be surprised to see further sideways action but we want to be long this market as the Donchian channel comes in at 1503. Major support at 1,500. Continue reading "More of the same, but are we starting to tip down?"
As with trading any financial product, there are many strategies to choose from. One strategy isn't necessarily better than another and many times the strategy that works best for you simply depends on your trading style.