Trevor Smith predicts that range of each of the major markets for next week using hi proprietary mathematical models.

You must go to higher charting time frames to the find the truth/wisdom/insight/harmony you seek. Crude oil, as one example, is on a confluence of the 200-week and 50-month simple moving averages. The S&P 500 futures has a confluence in numerous timeframes, And, after three waves down, here is a great supportive place to rally!  

Last week we accurately predicted the low end of the crude oil range based on weekly-chart bear-candle follow-through. Similarly, I also wrote that the Japanese yen seems to be at weekly chart moving average support with bullish volume and in a narrow range poised for a moderate break. This unclear-trade situation became a .00924 Friday surprise breakout high.

I advised traders to watch for a bullish high in gold, even though it was floating happily along some pivot-moving average confluences. It hit $1,311 per ounce, exceeding-but-hitting my range at the time of this writing! In the week prior’s article, I continued talk about the failing, guarded reversal-rally idea for the S&P futures.

If traders like the weekly-chart hammer candlestick in the Eurodollar futures, especially since the low was not taken out this week, then the June 30 expirations for long call spreads could accompany a boost in the S&P by both currency reasons and the attractiveness of perceived U.S. stocks to Europeans.

Next Week’s Predicted Ranges

E-mini S&P 500

High Range 2832.46-2813.95; Low Range 2744-2731.96

Japanese Yen

High Range 9499-9300; Low Range 9183-9162

Euro FX

High Range; 1.12701-1.12379; Low Range 1.115-1.113

WARNING: June Breakout to 1.135-1.137

Gold

High Range $1325-$1314; Low Range $1299-$1290

Crude Oil

High Range $56.83-$55.19; Low Range $52.72-$52.25

Last Week’s Predicted-Versus-Actual Ranges (Friday, May 31, 2019; Noon); 7/10 touched ranges

E-mini S&P 500

High Range 2899-2879; Low Range 2812-2796

Actual: 2841-2750

Japanese Yen

High Range 9193-9171; Low Range 9024-9110

Actual: 9246-9107

Euro FX

High Range; 1.129-1.126; Low Range 1.119-1.118

Actual: 1.123-1.113

WARNING: May-June Breakout to 1.135-1.137

Gold

High Range $1307.20-$1295; Low Range $1279-$1271

Actual: $1311-$1275

Crude Oil

High Range $60.40-$60.11; Low Range $56.87-$55.80

Actual: $5970-$5305