This is a sample entry from Drew Rathgeber’s newsletter, The Rath Overlay, published on Friday, May 20, 2016.
In this week’s charts, I’m focusing on the weekly charts for some markets – in my opinion these weekly charts show a turning point in particular for the US Dollar using the ‘Rath Overlay’. What does this mean? This could be bullish for the commodity complex in the coming weeks. Stay tuned.
In The Markets
Emini S&P – ESM6 (Jun ’16)
Nice bounce off the EMA’s yesterday and holding from the weekly chart.
Gold – GGCM6 (Jun ‘16)
Looks poised for a nice bounce and possible re-challenge the $1,300 just going to take a bit of time.
Soybeans – ZSN6 (Jul ‘16)
Crude Oil WTI – GCLM6 (Jun ’16)
Bounced off overhead resistance of $47.00 per barrel for the June contract, look for a countertrend retracement to around the $45.00 area.
T-Bonds – ZBM6 (Jun ’16)
Nice long entry hitting support on the weekly chart.
U.S. Dollar – DX-MM6 (Jun ’16)
This is probably the most interesting chart for this week, the weekly US Dollar showing it’s coming to strong overhead resistance. Based on this chart I would say we are probably getting close to an end of the counter trend bounce.
The Week Ahead
- 5/24 – New Home Sales 10:00AM ET
- 5/25 – EIA Petro Report 11:00AM ET
- 5/26 – Durable Goods Orders 8:30AM ET
- 5/26 – Jobless Claims 8:30AM ET
- 5/27 – GDP 8:30AM ET
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The Rath Overlay - Authored by senior broker, Drew Rathgeber, The Rath Overlay uses timeless methods to clearly identify market opportunities and guides the confident execution of your focused trading plan.
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