Equity Index Futures:
ES (E-mini S&P 500, September contract) saw a strong rebound, encountering resistance near the 605X level. Our remaining long positions, initiated near 5971 on June 12, continued to generate solid profits (over 120 points). We then initiated short positions around 6070.
Similarly, for MNQ (Micro Nasdaq, June contract), after taking profits on long positions from the 21610 area around 21990, we opened short positions near 22130 yesterday and began scaling out near 22010 (120-point profit).
The equity index futures remain in a consolidation phase at elevated levels near key resistance zones, with upward momentum still present. However, heightened volatility remains a concern. Our TCS strategy involves holding both long (at support) and short (at resistance) positions to navigate these wide-swing market conditions effectively.
Markets tend to be born in despair (March–April), develop in hesitation (May–June), and end in euphoria (be extra cautious in Q3). All June index futures positions should be closed for profit by Wednesday at the latest. It is crucial to prepare a trading plan (not a forecast) and act only at key support/resistance levels, which is a core principle of TCS.
Key Event: Markets await the FOMC rate decision at 2:00 PM ET, followed by Powell’s press conference at 2:30 PM ET likely to cause volatility.
Key Technical Levels (September Contracts):
• ES (U25):
• Strong support: 5948, 5883
• Major rebound target / resistance: 6105, 6145
• YM (YMU25):
• Support: 42320, 41770
• Resistance target: 43250
• NQ (NQU25):
• Pivot level: 21710
• Strong support: 21410, 21080
• Resistance target: 22130, 22310
• RTY (RTYU25):
• Strong support: 2097, 2059
• Resistance target: 2177, 2213
Outlook: Focus on buying dips near support levels on the daily timeframe.
Gold (GC, August contract – Q25):
Gold stabilized near the previously highlighted 3321 support level and rebounded to around 3476 before pulling back. The pullbacks in gold have been significant, highlighting the importance of short positions as a hedge. We have successfully captured profits from both long and short trades in gold.
The long-term trend remains bullish (our medium/long-term GLD positions are performing well), and our strategy remains buying on dips. That said, caution is warranted around high-volatility zones and possible pullbacks.
• Strong support: 3321
• Major resistance: 3489
Crude Oil (CL, Q25 – August contract):
Oil saw sharp swings due to news-driven sentiment, rallying to 77 before pulling back to near 68. We took partial profits near 72. Our approach remains to buy at support.
• Support: 68.7, 66.2
• Resistance/target: 73.8, 76.2
Natural Gas (NG, N25):
The outlook remains bullish, favoring rebound plays. Natural gas tends to exhibit extreme daily volatility (5%-10% moves are common).
• Strong support: 3.31
• Rebound target/resistance: 4.03
U.S. Treasury Bonds (ZB, U25):
After a rebound, ZB met resistance and retreated. Like NG, ZB often moves in extremes. Continue to look for long entries at support.
• Strong support: 111’15
• Rebound targets/resistance: 116’10, 119’23
U.S. Dollar Index Futures:
The dollar rebounded to near 102 but again met resistance and pulled back. The 98–97.5 area remains a key support zone—if breached, the next significant support is near 96.
Consider trimming long USD positions, and locking in profits on long non-USD currency trades.
Bitcoin Futures (BTC):
BTC reached the long-highlighted major target zone around 110,000 and has pulled back. Key support areas for potential long re-entry: 98,000 and 92,000.
• Bullish target/resistance remains: 110,000
More Information/Reports/Video/Analysis please contact us—info@the-currency-store.com. We offer fully customised content services tailored to you needs.
Add comment
Comments