The Day Ahead: AM Edition 2025-07-18 Part 2
The usual suspects
Bonds
Promising rise in bonds as ZB works on grinding up through 112^16. Once a base develops above 112^16 it is best to assume a drive up for 113^20 and the daily moving averages.
Crude Oil
I’m leaning to treating the move up to the high today as ‘(B) of [B]’ and thus probably headed at least a bit lower to 64.25 and maybe 63.75 before turning up in the last leg of ii.
Dollar Index
The DX rise is stalling a bit which is to be expected. Goal for bulls is to not lose much ground as the RSI resets.
Euro
Likewise, it looks like Euro is attempting to firm up and bounce up to form a lower high.
Gold
Gold moved up a little but is still basically hugging the daily moving average. I want to give bulls the benefit of the doubt, but they need to get going or lose the game.
