/CL We failed to hold over the recent big daily chart breakout. We are though, coming into some levels of support this week to watch. I am willing to test some long CRUDE again in the $58 level. Will be monitoring carefully but not rushing as geopolitical news could alter this chart very aggressively.
$DXY The last time we came back to the 200sma on the daily this chart failed to break and hold. I would be expecting to see a similar reaction this week as the possibility of a CRUDE move and GOLD move comes into factor.
/ES We should not be at all worried about this chart for now. Are we a little topping and should see a few more sessions of drawbacks? I can see that happening this week for sure. There is not any reason for full blown fear as the chart consolidates and resets. I will be trading the short side this week but, ready to buy at the first signs of support.
/GLD Continues to be safe haven hedge for investors as we broke out and now could be forming some base for another upside week. I think as we remain cautious about the world wide outlook buyers will continue to hedge. I do think however that GOLD may not be the only hedge investors might be looking at as it’s slower than BITCOIN for example which can be the new go to hedge IMO.
/NG I don’t see any reason not to test some NAT GAS here with the risk being well defined. The supply and chart keeps me from being a longer term holder here but, could provide some shorter term play into this week.