ES (S&P 500 Futures):
Last week, ES experienced continued wide-range volatility influenced by market news (high: 5490, low: 5127). However, it still remains within the range established on April 8 and 9. Our Futures Club is holding both long and short positions, which is an effective strategy in such volatile conditions. As the saying goes, markets are born in despair, grow in hesitation (a second key daily support zone in equity index futures is likely forming), and end in euphoria. It’s crucial to prepare a trading plan in advance and patiently wait for key support and resistance zones before entering trades — a principle our Futures Club consistently adheres to.
• Key support levels for ES: 5153 and 5083
• Rebound targets and resistance: 5345 and 5451
YM (Dow Jones Futures):
• Strong support: 38190 and 37770
• Major rebound target and strong resistance: 40050
NQ (Nasdaq Futures):
• Key level: 17920
• Strong support (as noted last week): 17650
• Major rebound target and strong resistance: 19030
RTY (Russell 2000 Futures):
• Strong support: 1851
• Major rebound target and strong resistance: 1981
For equity index futures on the daily level, the strategy remains buying on dips at key support levels.
Gold (GC, M25):
Gold hit a new high at 3509 last night before pulling back to around 3435 pre-market today. Despite frequent new highs, the pullbacks have also been significant (hedging through short positions has been crucial). Both long and short trades on gold have yielded solid returns. The upward trend remains strong, so the primary strategy is still buying on dips, though we should stay alert for potential high-level consolidation and corrections.
• Strong support: 3390 and 3281
• Strong resistance: 3535
Crude Oil (CL, M25):
Crude rebounded again to around 63.5 but faced resistance. The strategy remains buying on support.
• Strong support: 58.05
• Rebound target and strong resistance: 65.8
Natural Gas (NG, K25):
After facing resistance, NG has pulled back and is consolidating around 3.0. The outlook remains bullish, favoring buying on dips. NG tends to make extreme moves (often 5%-10% daily).
• Strong support: 2.91
• Rebound target and strong resistance: 4.03
Treasury Bonds (ZB, M25):
ZB saw a sharp rebound to around 122 before facing resistance and pulling back. Like NG, ZB tends to move in extremes, and the strategy remains buying on support.
• Strong support: 111’05
• Rebound targets and strong resistance: 118’10 and 121’23
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US Dollar Futures:
USD futures fell sharply, reaching a strong support zone around 98. Watch closely to see if this level holds. Be cautious of further pullbacks toward 96. It’s also a good time for profit-taking on long positions in non-USD currencies.
Bitcoin Futures (BTC):
BTC found support around 75,000 last week and rebounded sharply to near 90,500. Long positions should consider profit-taking at these levels.
• Key support zones: 81,000 and 76,000 (both are good re-entry zones for long positions)
• Major bullish targets and strong resistance: 93,000 and 100,000
Disclaimer:
Markets carry risks. Please invest with caution.
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