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Mid-day Update… And video for Crude, Gold & Silver. – If, Then… Market Timing

Mid-day Update… And video for Crude, Gold & Silver.

By Rod David | December 18, 2015 - 1:26 pm

Another recovery effort failed, albeit only by a drift lower.

Click here to view a late-morning overview we did of Crude Oil and Precious Metals – Gold & Silver (we’ll do frankincense and myrrh next week). Crude Oil was testing its bounce limit, which doesn’t now seem like it will be recovered by the close.

This morning’s bounce could have rejected the bias-down by recovering 2018.00. The bounce touched 2018.00, and trended down from there to 2001.50.

WedEX has inverted to bearish. Its only requirement on Friday is that bounces fail. Monday is the aggressive follow-through if Friday’s minimum requirement is fulfilled.

This afternoon’s 2008.00 bias-down signal was being overlapped within 3 minutes of 1:20 to invoke the grace period. Its 2001.50 target was met already to within 1 point. It can be probed more thoroughly. Nothing prevents trending down under it, but that’s not required.

 

Posted in Mid-day Update, S&P