lean hog future – crude oil future- trade idea – cullen outlook
This is a sample of Brian’s email newsletter, The Cullen Outlook.
This is from the Pre-Dawn Targeting portion from July 13th.
To gain access to these charts and all of the trade ideas in full the day they are released, sign up today!
Check out some of the most recent posts here:
https://www.danielstrading.com/author/bcullen
Good Morning—
I wanted to showcase 2 markets that caught my attention over the past 2 days.
1 that is setting up now and today might be the day and…
1 we missed initially but might have more upside.
Let’s ring that mid-week bell !!!
August LEAN HOGS:
VERY IMPORTANT!
Check this out, you don’t see this type of formation very often!….
On Monday we opened near 78.80, traded lower (to the key 78.00 level) and closed near those lows.
Check out the chart below, this is important…
On Tuesday we not only opened higher on the day, but we gap opened higher ABOVE the entire previous trading day.
We tried to rally yesterday but gave up most gains by the end of the day but still managed to close positive and still above Monday’s trading day.
This 78.00 level was also support in mid-June when we formed a Bullish Hammer and rallied (see aqua highlight).
I like getting LONG the Hog market here and risking just under this established 78.00 level
This formation for those who like Candlesticks is called a Bullish KICKER and it breaks down like this:
- They are a key reversal formation. check!
- They signify an abrupt change in trader’s sentiment and attitude. Ok!
- Kickers are most often seen at the end of a significant move higher or lower in the market. check!
It is a 2 candle formation that has characteristics like this:
- The first candle is either a strong bullish or bearish candle. Yes!
- The second candle gap opens in the OPPOSITE direction. Yes!
- During the 2nd trading day candle at no time does the price action enter into the body of the 1st trading days candle. (If so, this negates the formation) It didn’t!
August Lean Hog chart…
August CRUDE OIL:
Notice the old support back in late April / early May. The 44.50 level held (44.51 was yesterday’s low)
BUT we are now back above the trendline that started back in January when we put in the recent 32.00 low.
I think we should be getting long Crude Oil here if we can get back to the trendline support near 46.00 and looking for resistance at 48.00
Risk could be just under this 44.50 level where you could consider making your stop loss order a 2 lot and see if we can catch a move down somewhere near 40.00
I like to use this 2 lot stop order strategy where I can when appropriate. Find out more about it by watching this short video: https://www.danielstrading.com/video/broker-tip-brian-cullen-2-lot-stop-order
August Crude Oil chart…
Subscribe to The Cullen Outlook Product SUITE
The Cullen Outlook Product SUITE - The Cullen Outlook is for those wishing to follow the moves of a technical trader. You’ll get to look over the shoulder of a senior futures market strategist, see the market set-ups that grab his attention, and learn what he looks for when analyzing a chart!
Risk Disclosure
THIS MATERIAL IS CONVEYED AS A SOLICITATION FOR ENTERING INTO A DERIVATIVES TRANSACTION.
THIS MATERIAL HAS BEEN PREPARED BY A DANIELS TRADING BROKER WHO PROVIDES RESEARCH MARKET COMMENTARY AND TRADE RECOMMENDATIONS AS PART OF HIS OR HER SOLICITATION FOR ACCOUNTS AND SOLICITATION FOR TRADES; HOWEVER, DANIELS TRADING DOES NOT MAINTAIN A RESEARCH DEPARTMENT AS DEFINED IN CFTC RULE 1.71. DANIELS TRADING, ITS PRINCIPALS, BROKERS AND EMPLOYEES MAY TRADE IN DERIVATIVES FOR THEIR OWN ACCOUNTS OR FOR THE ACCOUNTS OF OTHERS. DUE TO VARIOUS FACTORS (SUCH AS RISK TOLERANCE, MARGIN REQUIREMENTS, TRADING OBJECTIVES, SHORT TERM VS. LONG TERM STRATEGIES, TECHNICAL VS. FUNDAMENTAL MARKET ANALYSIS, AND OTHER FACTORS) SUCH TRADING MAY RESULT IN THE INITIATION OR LIQUIDATION OF POSITIONS THAT ARE DIFFERENT FROM OR CONTRARY TO THE OPINIONS AND RECOMMENDATIONS CONTAINED THEREIN.
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE PERFORMANCE. THE RISK OF LOSS IN TRADING FUTURES CONTRACTS OR COMMODITY OPTIONS CAN BE SUBSTANTIAL, AND THEREFORE INVESTORS SHOULD UNDERSTAND THE RISKS INVOLVED IN TAKING LEVERAGED POSITIONS AND MUST ASSUME RESPONSIBILITY FOR THE RISKS ASSOCIATED WITH SUCH INVESTMENTS AND FOR THEIR RESULTS.
TRADE RECOMMENDATIONS AND PROFIT/LOSS CALCULATIONS MAY NOT INCLUDE COMMISSIONS AND FEES. PLEASE CONSULT YOUR BROKER FOR DETAILS BASED ON YOUR TRADING ARRANGEMENT AND COMMISSION SETUP.
YOU SHOULD CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR CIRCUMSTANCES AND FINANCIAL RESOURCES. YOU SHOULD READ THE "RISK DISCLOSURE" WEBPAGE ACCESSED AT WWW.DANIELSTRADING.COM AT THE BOTTOM OF THE HOMEPAGE. DANIELS TRADING IS NOT AFFILIATED WITH NOR DOES IT ENDORSE ANY TRADING SYSTEM, NEWSLETTER OR OTHER SIMILAR SERVICE. DANIELS TRADING DOES NOT GUARANTEE OR VERIFY ANY PERFORMANCE CLAIMS MADE BY SUCH SYSTEMS OR SERVICE.
GLOBAL ASSET ADVISORS, LLC (“GAA”) (DBA: DANIELS TRADING, TOP THIRD AG MARKETING AND FUTURES ONLINE) IS AN INTRODUCING BROKER TO GAIN CAPITAL GROUP, LLC (GCG) A FUTURES COMMISSION MERCHANT AND RETAIL FOREIGN EXCHANGE DEALER. GAA AND GCG ARE WHOLLY OWNED SUBSIDIARIES OF STONEX GROUP INC. (NASDAQ:SNEX) THE ULTIMATE PARENT COMPANY.
