Window Shopping for the Week of October 9, 2023

Paul King

Paul King

Paul King

Hi Shoppers,

 

First up on the list is SPDR Gold Shares ETF (Ticker: GLD):

 

 

A doji was formed on Thursday after this big sell off which could be signaling a chance in this downtrend.

 

GLD also bounced off my support level at $168.

 

Looks like it could trade back to $175.

 

Here are the Gold Futures Dec Contract:

 

 

Holding a nice double support level with a bullish engulfing candle on Friday.

 

Walmart (Ticker: WMT) has had a nice selloff trading down to my support level which lines up with the 200 day moving average, bounced and created a really nice hammer on Friday:

 

 

Looks like it could trade back up to the 50 day moving average at $160.71 and possibly $163.

 

Of course we need to wait for the confirmation on Monday.

 

United States Oil Fund (Ticker: USO) could possibly be finding a bottom here with a hammer on Friday trading down to a support level:

 

 

The 50 day comes in at $76.17 and above there resistance is at $78.

 

The Crude Oil Futures Nov Contract could have a possible doji on Friday:

 

 

Enjoy your Sunday!

 

Thanks for Reading … See You Next Tuesday,

 

Licia Leslie

Licia Leslie

Head of Technical Analysis

Founder: Option Shopper

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About the Author

Paul King

Paul King

Former CBOE floor trader and CIO at Karman Line Capital. Author of ‘The Option Traders Hedge Fund’ with over 30 years of options trading experience.

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