This is a sample of Brian’s email newsletter, The Cullen Outlook. This is the Pre-Dawn Targeting portion for Tuesday, May 5th.
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Happy Cinco De Mayo!
Positions we have on:
SHORT the June mini-EURO from 111.50
We don’t trade Coffee very often but support has been broken. I like the idea of getting short now that we are under recent support. The MACD is now crossed over and is on its 3rd day of sub 0.00 and it could possibly start to gain a little momentum here. This is a bigger contract that offers no mini contracts so we will have to set the stop close and look for a lower trade then move stop aggressively thereafter. I will be trying to get short at 133.50 if we can see a small rally with a stop just above the 135.00 level. I will be leaving the objective open and will just trail the stop as we go.
June mini-CRUDE OIL:
Is Crude Oil getting tired up here at 59.00? I like the idea of getting SHORT using the mini-contract (1/2 the size). The STOP will be just above recent highs of 60.00 The objective if we do see it get rejected again will be the 54.00 level and then 52.00 Keep an eye on the MACD to crossover, the Stochastic has started to and may be under the 80.00 level soon.
The 1180.0 level has held once more (so far). I like the idea of buying into yesterday’s bounce right here. Using the mini-contract, we can look to put the stop near the 1160.0 level while looking for a break above 1200.0 to the 1220.0 level.
Have a great Tuesday! Call or email your DT broker if you would like to get involved today.
LET’S DO THIS!
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The Cullen Outlook is a futures trading newsletter for those wishing to follow the moves of Brian Cullen, an experienced technical trader. He’ll identify charts setups, provide direct trade recommendations and plans, and share other useful insights to help you become a better technical trader.
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