Today I am going to look at the S&P 500 (ES) and Oil (CL) for a midweek review on 1/30/2019. I am bullish on both but could see a pullback in the near future in order to complete a short side lightning trade. Overall the S&P 500 looks like it will be in a range for a bit before another move happens. Whether that is to the upside or downside I do not know at this point.
S&P 500 and Oil – Technical Analysis Video
Recap
- For oil, there could be a short term move up and then a retracement down. The longer-term picture is bullish. Precise entries and exits are given.
- For the S&P 500 I am looking for 2,722 to be the exit longer term. After that, we will have to see what setup unfolds.
I try to provide precise entries and exits on everything I review because I hate hedging! Make a call and own it!
All views are my own opinions based upon how I trade and should not be taken as financial advice. I am not currently in the S&P 500 or Oil and do not have plans to do so in the next 24-48 hours.
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