After the rise from the 2035 level on the s@ps to 2018 the markets are extremely over bought. I am looking for a pullback to the 2075-2080 level. Once that pullback happens I would expect some great long patterns to set up. As I mentioned more than a week ago when oil closed below the 57.50 level. I said that I would be getting a sell signal on the daily charts. The next level I saw was oil trading down to the low 50‘s that is exactly what happened. I see a bounce in oil coming but short lived then another decline maybe back to the upper 40 level. Gold is very negative on my work. I have sell signals on the weekly and daily charts. I can see gold making a new low for the year breaking the 1135 level.
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