5 Must-See Levels for Wednesday | SchoolOfTrade Newsletter 07/22/14

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“It is a paradoxical but profoundly true and important principle of life that the most likely way to reach a goal is to be aiming not at that goal itself but at some more ambitious goal beyond it.” –Arnold Toynbee Today’s Newsletter: • Markets Today: Mini-Russell pushes higher, Crude Oil tumbles, and Gold trades sideways • News for Tomorrow: Crude Oil Inventories, waiting for more from Russia/Ukraine/Gaza • Trading Opportunities: Buying Crude Oil, Selling Mini-Russell, Range-bound Gold TODAY: - Markets still worried about global violence - Waiting to hear what happens next... - Tons of bullish Red-Star News in the US to help Equities -------------------------- GOLD: - Daily Chart: Trading Sideways - Just above $1300 'Big Round Number' - Buying Lows, Selling Highs, Avoid Middle -------------------------- RUSSELL: - Daily Chart: stuck between support & resistance - Daily Chart: half way between recent highs and lows - Anchor Chart: Sell @ Channel Highs - Waiting to buy pullbacks - Waiting to Sell if buyers FAIL -------------------------- CRUDE OIL: - Back and Forth, up and down this week - Settles back @ $102/barrel - Expecting Buyers @ $102 - Selling Short when Buyers Fail - Inventory Report Wednesday @ 10:30am EST