Monday 20th May 2013
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ENERGY |
US OIL closed higher on Friday and the highrange close sets the stage for a steady to higher opening when Monday's night session begins. Stochastics and the RSI are turning neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends renews the rally off April's low, April's high crossing is the next upside target. Closes below Wednesday's low crossing would confirm that a shortterm top has been posted.
NATURAL GAS closed higher on Friday. The highrange close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning neutral to bullish signalling that a low might be in or is near. Closes above the 20day moving average crossing are needed to confirm that a low has been posted. If it renews this month's decline, the 50% retracement level of this year's rally crossing is the next downside target.
Monday 20th May 2013
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FX - EURO |
The EURO closed lower on Friday and the lowrange close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends the decline off May's high, April's low crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a low has been posted.
Monday 20th May 2013
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FX - YEN |
The YEN closed higher on Friday and the highrange close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are bullish signalling that sideways to lower prices are possible nearterm. If it extends this year's rally, monthly resistance crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a shortterm high has been posted.
Monday 20th May 2013
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FX - SWISS FRANC |
The SWISS FRANC closed higher on Friday and the highrange close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible nearterm. If it extends the rally off last week's low, the July 2012 high crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a shortterm high has been posted.
Monday 20th May 2013
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FX - STERLING |
STERLING closed lower on Friday and the lowrange close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends this month's decline, the reaction low crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a low has been posted.
Monday 20th May 2013
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BULLION - GOLD |
GOLD closed lower on Friday. The lowrange close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible nearterm. If it extends this month's decline, April's low crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a shortterm low has been posted.
Monday 20th May 2013
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BULLION - SILVER |
SILVER closed lower on Friday and the lowrange close set the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible nearterm. If it extends this month's decline, April's low crossing at 22.000 is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a low has been posted.
Monday 20th May 2013
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INDICIES - US 30 |
US30 Index CFD closed higher on Friday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible nearterm. The highrange close sets the stage for a steady to higher opening on Monday. If the Dow extends the rally off November's low into uncharted territory, upside targets will be hard to project. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted.
Monday 20th May 2013
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INDICIES - US 100 |
US 100 Index CFD closed higher on Friday and the highrange close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends the aforementioned rally, weekly resistance crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted.
Monday 20th May 2013
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INDICIES - US 500 |
US 500 Index CFD closed higher on Friday and the highrange close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends this year's rally into uncharted territory, upside targets will be hard to project. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted.
Monday 20th May 2013
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COMMODITIES - US COFFEE |
US COFFEE CFD closed lower on Friday and the lowrange close set the stage for a steady to lower opening on Monday. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible nearterm. If it extends this week's decline, April's low crossing is the next downside target. Closes above the 10day moving average crossing would confirm that a shortterm low has been posted.
The information set forth herein was obtained from sources which we believe to be reliable, but its accuracy cannot be guaranteed. It is not intended to be an offer, or the solicitation of any offer, to buy or sell the products or instruments referred herein. Any person placing reliance on this commentary to undertake trading does so entirely at their own risk.
