HiLo Morning Brief · Oct 27 — U.S. Stocks & Commodities: Crude Oil's Daily High Signal Builds (2/2)
U.S. equities rebounded in a choppy session last night. QQQ has shown 4-hour low signals near 700 over the past two days. The rebound has been modest, but it has helped lift the storage sector, which had been under sustained pressure. SK hynix is currently leading the gains.
The rebound target for QQQ this week remains near 730. It failed to reclaim that level last week, so whether it can move back above it is worth watching. Overall, the U.S. equity market continues to show resilience.
In commodities, XAU has temporarily found support near 4,000, but there has been no meaningful rebound yet. We are watching whether it makes a fresh recent low and how support near 3,940 holds. Price may continue to fluctuate around this area in the near term.
For CL crude oil, another down close today could form a daily high. The green “high forming” signal on the chart has begun to flash, suggesting a higher probability of a high forming. Final confirmation will depend on the daily close.
#HiLoMorningBrief #QQQ #Gold #CrudeOil
U.S. equities rebounded in a choppy session last night. QQQ has shown 4-hour low signals near 700 over the past two days. The rebound has been modest, but it has helped lift the storage sector, which had been under sustained pressure. SK hynix is currently leading the gains.
The rebound target for QQQ this week remains near 730. It failed to reclaim that level last week, so whether it can move back above it is worth watching. Overall, the U.S. equity market continues to show resilience.
In commodities, XAU has temporarily found support near 4,000, but there has been no meaningful rebound yet. We are watching whether it makes a fresh recent low and how support near 3,940 holds. Price may continue to fluctuate around this area in the near term.
For CL crude oil, another down close today could form a daily high. The green “high forming” signal on the chart has begun to flash, suggesting a higher probability of a high forming. Final confirmation will depend on the daily close.
#HiLoMorningBrief #QQQ #Gold #CrudeOil
