Futures Forecast Oct 31
This week we are looking at Crude Oil and E-mini SP500.
As the elections grow even closer, we are seeing the markets as a whole coil, wedge, and range. To me, this make sense as everyone is kinda in a wait and see mode.
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On the ES(emini-S&P 500), we are at the bottom of the Range around the 2121. Therefore I think for the next week coming into the U.S. election we will see a push to the upside back up to around 2150. Again this would allow us to stay in the range and in more of a wait and see. Technically we are in an uptrend. So I would like to see the markets continue to rise up after the elections, but time will tell.
APA Zones Futures Forecast:
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On Crude Oil: We have price ranging back and forth from 52 down to the low of 45 again. We are certainly in a range. This week I see us going down again before we head back up into the middle range as part of this election limbo.