ZB--30yr Bond; still moving higher, what a great trade if you've been hanging on to this one. I would still be a buyer back to the 21 ema and look to see this baby moving higher...
ES- S&P 500 emini;
Bears look to fight this one out pretty hard, I would really look for whatever way this one breaks out of this wedge. Its anyone's call this week to see but I believe we could see much more downside if we can break lower...
DX- US Dollar;
Keeps on trending higher, this is one to hold onto at least for the rest of this year but maybe for the next 2 to 3 years possible. As more pressure is placed on Russia, and the price of crude to be manipulated lower- look to see the Dollar staying strong and going higher!
GC-Gold:
I like Gold a little higher as its breaking out of this channel but then getting rejecting again from this tree line and heading lower, Gold will go much lower but may take a little break and make some small gains
CL- Crude: Look to see this train still going lower, allot of folks can't believe it but it is. Until all the buyers get flushed out, and margin called out then we can make a bottom on CL and go higher but there's still plenty buying and I look for a target @ $41.56. Places like Texas will continue to get hit hard with possible a recession, capping wells and laying thousands off as its smarter to leave the oil in the ground and wait for prices to come back. This will continue to have huge implications around the world especially with countries like putting a squeeze on Russia... With crude about bankrupting their country and loosing half the value of their currency in a week--- Pray we don't push them into a corner and start another 'cold war'!
That's it for now...
Have a great trading week, set targets, take profits and don't be greedy!
-david
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