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Here are my comments on my open positions based on the day’s price action.
SB – Sugar
Trade: Long 2 contracts of July Sugar
Entry Price: 16.05
Risk: 16.05 risking $0
Target: 18.42
Daily Comment: Sugar pulled back to the 15 SMA which has provided support recently but closed below the 61.8% retracement of the contract high and low.
QM – Mini Crude Oil
Trade: Short 1 contract of July Mini Crude Oil
Entry Price: $48.225
Risk: $50.60 risking $1,187.50
Target: $38.32
Daily Comment: Oil was lower during the overnight session but rallied during the day session on the back of the API report. Oil couldn’t hold onto the gains and finished the day only slightly higher.
Here are my comments on the opportunities I’m watching based on the day’s price action.
GC – Gold
Gold broke sharply lower today posting a bearish full bodied candle.
ZC – New Crop Corn
Corn was higher today making new highs for this move but was unable to hold onto the gains and finished the day slightly lower posting a candle with a long upper shadow.
Gains today with strong gains in Sugar partially offset by losses in Oil.
Here are my comments on my open positions based on the day’s price action.
SB – Sugar
Trade: Long 2 contracts of July Sugar
Entry Price: 16.05
Risk: 16.05 risking $0
Target: 18.42
Daily Comment: Sugar continued lower trading down to the 20 SMA before reversing strongly to close at new highs for the move and posting a bullish full bodied candle.
QM – Mini Crude Oil
Trade: Short 1 contract of July Mini Crude Oil
Entry Price: $48.225
Risk: $50.60 risking $1,187.50
Target: $38.32
Daily Comment: Oil continued to move higher after the bullish storage report and closed slightly above the 61.8% retracement mark of the recent range making a new high for the move.
Here are my comments on my open positions based on the day’s price action.
SB – Sugar
Trade: Long 2 contracts of July Sugar
Entry Price: 16.05
Risk: 16.37 risking $0
Target: 18.42
Daily Comment: I moved my Stop up to 16.37 below the low of Wednesday’s breakout candle at the start of the session. Sugar continued higher today closing at another new high for the move.
QM – Mini Crude Oil
Trade: Short 1 contract of July Mini Crude Oil
Entry Price: $48.225
Risk: $50.60 risking $1,187.50
Target: $38.32
Daily Comment: Oil was lower for most of the day but finished off the lows posting a candle with a lower shadow.
Here are my comments on the opportunities I’m watching based on the day’s price action.
GC – Gold
Gold was lower again today but held above the previous low at $1,206 and closed off the lows posting a candle with a lower shadow and holding the 100 SMA.
I had an order to buy Mini Gold at $1,208 today which wasn’t triggered with the low of the day at $1,209.25.
ZC – New Crop Corn
Corn continued higher today posting another bullish full bodied candle. Prices are now just below the major 61.8% retracement level at $4.15.