Premarket 20/05/2016

Hi everyone,
Today we have another bearish day ahead, at least the chart told us. We have two major exceptions the NQ, YM looks the same but the long trend is bearish, the CL is now bearish but we know that the long trend is very bullish and we can see a reversal anytime. On the other hand we have not major news for today's session.

YM:
I expect a rotation to the high of the bearish channel around 17.500 this is a very strong resistence and if we see a close above this area we should see new highs. Anyway I expect that price after this level move down and close below of the yesterday's lows.


TF:
This chart remains very bearish, and also expect a rotation to the channel's high and then a rotation to the lows. The alternative scenario will be is we see a close above 1100.


NQ: 
Yesterday we had a false breakout and from this point the price is moving inside the bullish channel. I the price move out the channel and close below 4300 probably we will see new lows. The alternative scenario will be is we see price above 4360.


CL:
Now this market is bearish, but the uptrend is very strong and we can see a reversal in anytime. If the price move out the bearish channel will be the first clue to see a move higher, the second clue will be a close above 49,00.


In a nutshell, all markets are bearish and today we don't have any major news so we can expect a new lows in all markets.

Good Bye and Good Trading.

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