Korea Summit

Outlook 04/27: In a historic summit today, North Korean leader Kim Jong-un and South Korean President Moon Jae-in agreed to end a seven-decade war and pursue the "complete denuclearization" of the peninsula. Beyond the geopolitics, many investors are paying attention to the talks as South Korea is critical to the global supply chain and many manufacturers are located close to the border.

/ESM8 Value: YVAH 2675 YPOC 2666 YVAL 2656

/ES Plan: Yesterday closed bullish and overnight profile is bimodal (LIS 2670), moving within Yesterday's value, so we've these options:

A) If market remains above LIS 2670 with bullish internals, be a buyer leaning on 2670-2673 towards ONH 2675.75 HVEs 2680 2690 and 2700. 'Look below and fail' is a signal of strength.

B) If market starts to move below LIS 2670 with bearish internals, become a seller leaning on 2670-2667 towards ONL 2665.25 and YVAL 2656. 'Look above and fail' is a signal of weakness.

Tips: Trade entries and exits always depend on each trader account size, financial situation, risk tolerance and time frame style (swing or scalp). You can combine both (Scalp/Swing) in a scale-out trade strategy, where one set of contracts is scalped and a second set is left open for a possible winning runner towards key levels. If the trade moves to the first profit-target, then final stop is moved to the entry price.

Today's Economic Calendar

10:00 Consumer Sentiment
01:00 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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