The ES saw a strong rebound, reaching resistance around the 605X area and facing rejection. A short position was initiated near 6070. The upward momentum in index futures remains, with the market now oscillating at a high level near a key resistance area—beware of renewed volatility. At TCS, we are simultaneously holding both long (at support) and short (at resistance) positions, which is a sound strategy during periods of large fluctuations. Markets are born in despair (as seen in March and April), grow in hesitation (May and June), and end in euphoria (special caution is needed in Q3). All long positions in the June index futures contracts should be exited by Wednesday at the latest.
It’s important to set a trading plan in advance (not predictions), and patiently act only near key support and resistance zones—our futures club firmly adheres to this principle. Markets are watching the U.S. Fed’s rate decision announcement at 2 PM tomorrow, especially Chair Powell’s press conference at 2:30 PM.
• ES (U25) Strong Support: 5948 and 5883
• Major Target and Resistance: 6105 and 6145
• YMU25 Support: 42320 and 41770
• Target/Resistance: 43250
• NQU25 Pivot: 21710
• Strong Support: 21410 and 21080
• Major Target/Resistance: 22130 and 22310
• RTYU25 Strong Support: 2097 and 2059
• Major Target/Resistance: 2177 and 2213
At the daily level, index futures remain primarily in a buy-on-support pattern.
Gold (GC Q25):
Gold stabilized around the 3321 support (as previously noted), rebounded to 3476, and then faced rejection. The pullbacks in gold have been significant (hedging via shorting is important). We have profited from both long and short positions in gold. The strong uptrend remains intact—buying on dips is still the main strategy. However, be cautious of high-level oscillations and retracements.
• Strong Support: 3321
• Strong Resistance: 3489
Crude Oil (CL Q25, August New Contract):
Oil experienced sharp volatility due to news events, surging to around 77 before retreating, hitting a low near 68. Partial profit-taking occurred around 72. The main strategy remains buying on support.
• Support Levels: 68.7 and 66.2
• Target/Resistance: 73.8 and 76.2
Natural Gas (NG N25):
The strategy remains focused on buying into rebounds. NG tends to make extreme moves—often 5%-10% in a single day.
• Strong Support: 3.31
• Target/Resistance: 4.03
U.S. Treasury Bonds (ZB U25):
After a rebound, ZB faced resistance and pulled back. ZB also shows extreme movements; continue to buy on support.
• Strong Support: 111’15
• Target/Resistance: 116’10 and 119’23
U.S. Dollar Index Futures:
The dollar rebounded to around 102 but was rejected again. The 98–97.5 region is key support—if breached, watch for a drop to the 96 area. For non-USD currencies, consider profit-taking on long positions.
BTC Futures:
BTC hit the long-standing major target of 110,000 and pulled back as expected.
• Support Zones: 98,000 and 92,000 (good areas to re-enter long)
• Major Target/Resistance: 110,000
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