This is a sample of Brian’s email newsletter, The Cullen Outlook. This is the Pre-Dawn Update portion for Friday November 14th.
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Happy Friday….what a week!
Busy from the Monday morning bell and it never let up…let’s keep that ball rolling!
Today’s Pre-Dawn will be dedicated to trendlines and stochastics and I will highlight 4 markets worth a good look (with the charts attached).
You will also notice that I added the 20 day moving average in blue to the charts…or what I like to call “The Market’s Spine” and this is where the technical analysis guide that I published got its name. If you haven’t looked through it yet…the link to the guide and 6 video suite is below.
The Market’s Spine guide (with 6 video suite):
Let’s get after these markets today…
December LIVE CATTLE:
Keep an eye on this 170.00 level. If it gets turned away again and the stochastic rolls over (red crossing over blue to the downside), prepare to take action and get involved! It may not be today but it is on my radar! The risk would be no more than $1.50 from entry. A break of that trendline would come in it appears at 166.50 (see attached CATTLE chart)
December AUSSIE DOLLAR:
Yesterday we saw the down trendline hold and the stochastic has started to roll over lower. A great spot to look for a short entry would be the 87.00 level. The risk would be just above yesterday’s high and just outside of the trendline. If you happen to catch it and this market takes out the lows of early October, you may look to add another contract on. (see attached AUSSIE chart)
December SWISS FRANC:
It has a couple things going on. We are sitting at the point of a pennant and it will have to break out one way or the other….so be ready! If it breaks out to the upside it will have a trendline to deal with at 144.50 The break-out moves on the last 2 pennants on this chart have been to the downside. Can you see them? I am not saying that this will happen a 3rd time, no one knows, I just wanted to point that out and see if you see what I see. (see attached SWISS chart)
Turning our attention back to the downside after we exited our 2 long positions yesterday. You will see that on Wednesday the market closed just on or above the trendline (very close call) but was turned away late yesterday back to the 16.00 If we could see 16.10- 16.20 again, that would be a spot to target to get short..that said, the stochastic looks very strong to the downside. The risk would be just above that Wednesday high and just outside of the trendline. Let’s see how the early morning plays out!
For those of you who were able to keep up and got involved this week, great job!
Have a great weekend!
LET’S DO THIS!
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