/KC (coffee futures) looks to be setting up for a long swing trade following the recent white downtrend line breakout & backtest + current divergent low, with a buy signal to come on a breakout above the (blue) minor downtrend line. Targets 101.65 & 107. JO & JJOFF are coffee ETNs that track coffee prices via futures.
KC 60-min Feb 27th
/CL (crude futures) has bounced back to the 56.93 minor resistance following the initial thrust down off the recent divergent high & recent trendline break, offering an objective short entry for a swing down to the 54.75ish support & possibly as low as the 51.62ish support. USO (1x non-leveraged) and DWT (3x short) are two ETNs trading proxies for crude oil.
CL 60-min Feb 27th
Although it still appears to me that the near-term direction in gold is somewhat unclear, /GC (gold futures) has formed a small symmetrical triangle pattern which could spark a very short term rally (upside break) or drop down to the 1320.25 level, providing a potential short-term trade depending on which way the pattern breaks. GLD is the most liquid ETF for trading gold.
GC 60-min Feb 27th
After reversing off resistance following the recent rally off long-term support + the 60-min divergent low, /NG has now broken below the short-term uptrend line off the mid-Feb lows but has also fallen to support. As such, the near-term direction is unclear at this time IMO. I’m sharing this one as nat gas seems to be a popular trading vehicle within the trading room while personally, I’m waiting for the next objective entry on nat gas, ideally on the long side.
NG 60-min Feb 27th
On a final note, the stock index futures haven’t done much since my last update yesterday afternoon so I’ll post an update later today.