Reckoning Levels

Equities are consolidating at key swing levels - Either price holds here, else the escalator lower continues...





Gas appears to be putting in a top formation

Gold is trending higher and well into value (Zig/Zag overall)
 - Watch for overhead swing resistance

Oil has hit SMA 200 and in good position for technical bounce
- OPEC is meeting in May to reexamine production levels
 

Perform intraday trading accordingly

Pullback finally...

Summary:

- Equities broke lower today beyond the respective Average True Range

- The initial liquidation concluded coinciding with the German close before resuming

- The bottom reached were historical references

Long Term Trends

• Tuesday equities sold off with the magnitude of Brexit but not to the SMA 200
• Oil is long term selling off but holding at the SMA 200
• Gold is buying and finding acceptance at long term POCs
• Natural gas is buying & reaching chart resistance

Intermediate Term (4 hour)

• Equities has reached chart level & psychological contract levels
• Equities has met the 4 hour SMA 200
• Equities has weak MP structure below
• NG gas buying continues, reaching key chart level resistance
• Gold breached above key Points of Control
• Oil has reached key Pre OPEC agreement levels (prelude to upcoming OPEC meeting?)

Short Term Review

• History suggests a rebound in the equities after today, however, the MP below is weak
• Gold has broken above points of control. Looking long
• Natural gas has been trending long but needs to break above chart resistance
• Oil appears to be perfectly happy where it’s at.