MC Trading

In our last assessment on May the 14th we warned about a possible pullback:

“Buying pressure is weakening as well as Comparative strength with a Supply balance at the moment, signaling a pullback is possible soon” and a possible test of the 1288.70 level. We took profit. Price pulled back to 1274.60 and closed at 1275.70 on Friday, just above the Spring board at 1274.30.

If the Spring board holds at 1274.30 (successful test of this level) and price close above 1288.70 again we will be looking to take on another long swing position.

Caution:

Selling pressure developed and the market had a Supply balance the last few days. If the 1274.30 level does not hold, another new near term low is possible. We expect Volatility to pick up again next week.

Link to Facebook Group where these assessments are also posted regularly.

RISK DISCLOSURE:

The information delivered here is for educational purposes only and is not intended to be a recommendation to purchase or sell any of the stocks, futures or other securities referenced. All references are for illustrative purposes only and are not considered endorsed or recommended for purchase or sale by MC Trading.

Trading Forex, Stocks and Options, Futures and any Cryptocurrency, Commodity or ETF contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results and no representation is being made that any account will or is likely to achieve profits or losses similar to those shown. MCTrading has taken reasonable measures to ensure the accuracy of the information contained herein and on this website, however MCTrading does not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or from an inability to access such information or any delay in or failure of the transmission or receipt of any instruction or notification in connection therewith.