Jason Sen
DayTradeIdeas.co.uk
- Emini S&P June recovered most of the early losses quickly then dropped again before an over night recovery on the open. The low & high for the last session were 5927 – 6054. (To compare the spread to the contract you trade).
- Emini Nasdaq June collapsed to 21471 before a quick recovery to resistance at 21700/21800. Shorts here certainly worked. Last session high & low were: 21471- 21915.
- Emini Dow Jones June was hit hard, reaching 41920 over night. Last session high & low for the last session were: 42090 – 42954.
Emini S&P June futures
- Emini S&P collapsed to strong support at 5950/40 & longs needed stops below 5930.
- We made a low for the over night session at 5927.50 & managed a strong recovery.
- We beat resistance at 5995/6005 on the recovery.
- We have been stuck in a 160 point range throughout June.
- A low for the range at 5930/10 & a high for the range at 6050/6075.
- Below the low of the range we test of support at 5895/85.
- Longs need stops below 5875.
- There’s minor 1 week trend line resistance at 6025/30 & 6055/6060.
- We need a breakout of the range to get some clarity & direction.
Nasdaq June futures
- Emini Nasdaq made a low for the day just above the 21440/400 target.
- We have been stuck in a 900 point range throughout June.
- Further losses meet a buying opportunity at 21300/250 this week.
- Resistance again at 21700/21800 but a break above 21900 this time suggests the panic is over & can target 21970/990 before a retest of 22050/22106.
Emini Dow Jones June futures
- Emini Dow Jones longs at my buying opportunity at 42350/250 worked perfectly with a low for the day only 50 ticks lower & a 400 tick recovery.
- In fact we had 2 chances at this buying opportunity hitting 42550/590 for profit taking.
- Shorts at resistance at 42600/700 also worked twice – the perfect scalping day with 4 winning trades & up to 1400 ticks profit.
- On the over night open we broke lower to my next targets of 42050/42000 & 41900/850.
- A low for the session so far just 20 ticks above here.
- Minor resistance at 42200/42250 so above 42300 targets 42400/42450.
- A high for the morning is certainly possible here but shorts need stops above 42550.
- Further gains target 42700/750.
- A break below 41850 risks a slide to 41650, perhaps as far as 41350/300.
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Editors’ Picks
EUR/USD grinds higher above 1.1550 despite Middle East conflict
EUR/USD picks up fresh bids and regains 1.1550 in European trading on Monday amid a renewed US Dollar downtick. Despite the fresh USD selling, traders remain wary about the escalating Israel-Iran conflict as the focus remain on the Fed policy decision due on Wednesday.
GBP/USD advances toward 1.3600 as US Dollar loses ground
GBP/USD extends its rebound toward 1.3600 in Monday’s European session, helped by a fresh selling wave around the US Dollar. Markets seem to look past the deepening Middle East conflict, resorting to position adjustments ahead of the Fed and BoE policy announcements later this week.
Gold price consolidates recent strong gains to the highest level since April
Gold price extends its steady intraday retracement slide from a nearly two-month peak and drops to the $3,400 neighborhood during the early European session on Monday. A generally positive tone around the equity markets is seen as a key factor undermining the safe-haven bullion, which now seems to have snapped a three-day winning streak.
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Source: https://www.fxstreet.com/news/stock-markets-stable-after-middle-east-attacks-202506160719