Market Update for November 13, 2018
In Today's Update:
1) Stocks made a desperate attempt to recover today but failed and closed mostly lower on slightly higher than average volume. The Dow Jones Industrial Average dropped 100.69 or 0.40%, the S&P 500 fell 4.04 or 0.15% while the Nasdaq 100 finished completely flat and the Russell 2000 closed the day lower by 3.99 or 0.26%.
2) Crude Oil Futures have become a falling knife that no one wants to catch dropping another $4.65 or 7.76% while Gold Futures closed lower by $0.70 or 0.06%. The Bond market traded slightly lower and the yield on the 10-year treasury note finished the day at 3.141%.
3) Crude Oil Futures have been spiraling lower since hitting a 52-week high on October 3rd, 2018. Since then, Crude has dropped more than 27.5% and looks likely to continue falling. In today's video, we will review The Daily, Weekly, and Monthly charts of Crude Oil to look for the next level of potential support.
About the author
Vince Vora is the head trader at TradingWins.com. Over the last three decades, he has been trading and refining his trading systems that are based on technical analysis and price action. Over the last few years, his focus has been on teaching people how to become better traders. His systems range from simple to sophisticated and can be used in any market conditions to trade stocks, options, futures and forex. By: TradingWins Team
