Outlook 04/20: The IMF and the World Bank will kick off their spring meetings today, with finance ministers and central bankers from around the globe gathered in Washington. A Group of 20 meeting will take place on the sidelines. In its World Economic Outlook this week, the IMF listed trade tensions as a key downside risk to the global recovery and warned that it could hurt economies connected by international supply chains.
/ESM8 Value: YVAH 2695 YPOC 2687 YVAL 2684
/ES Plan: Yesterday market closed bimodal (LIS 2690) but overnight inventory is bullish (GBT 2701), moving within Yesterday's range, so as usual we've these options:
A) If market remains above LIS 2690 with bullish internals, be a buyer leaning on 2690 towards ONH 2698.25 and LVN 2703. 'Look below and fail' is a signal of strength.
B) If market starts to move below LIS 2690 with bearish internals, become a seller leaning on 2690 towards ONL 2682.75 and PBT 2674. 'Look above and fail' is a signal of weakness.
Tips: Focus on execution during high volume hours (9:30-11:30am/3:00-4:00pm ET). Avoid Lunch Time pitfalls.
Today's Economic Calendar
9:40 Fed's Evans: Monetary Policy
1:00 PM Baker-Hughes Rig Count
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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