Four Instruments To Trade In The US Session

Arslan Butt•Monday, July 24, 2017•1 min read

The market hasn't shown any clear trend so far and has been trading sideways. Monday often comes with thin trading volume and volatility due to a lack of top tier catalysts. This leaves us trading the technicals. Let's take a quick look at the major setups ahead!

– WTI Crude Oil has an immediate resistance at $46.35. Breakage above this level will open further room for buying until $46.75.

– Gold closed our position at stop level of $1257 after floating in 20+ pips profit. At this moment, it's still holding near our previous selling level of $1255. The idea is to wait for the US session and take another sell below $1256 with a minor stop loss of 20 pips at $1258.

– S&P 500 // SPX is holding above an immediate support level of $2464. Keep a close eye on it as the market is in selling below this level and it's likely to show more buying above $2464.

– Similarly, the Japanese Index, Nikkei, is also consolidating above the crucial trading level of $19857. A break below this will offer us further selling until $19775.

We are looking for further trade opportunities in the US session and will keep you posted. Stay tuned for updates…

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ABOUT THE AUTHOR See More

Arslan Butt

Index & Commodity Analyst

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.