Thursday 20th June 2013
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ENERGY |
US OIL closed lower on Wednesday and the midrange close sets the stage for a steady opening when Thursday's night session begins. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible nearterm. If it extends the aforementioned rally, February's high crossing is the next upside target. Closes below the 20day moving average crossing would temper the nearterm friendly outlook.
NATURAL GAS closed higher on Wednesday and the midrange close sets the stage for a steady opening on Thursday. Stochastics and the RSI are turning neutral to bullish hinting that a low might be in or is near. Closes above the 20day moving average crossing would confirm that a shortterm low has been posted. If it extends the decline off May's high, the 75% retracement level of this year's rally crossing is the next downside target.
Thursday 20th June 2013
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FX - EURO |
The EURO closed sharply lower on Wednesday and the lowrange close sets the stage for a steady to lower opening when Thursday'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 month's rally, the 75% retracement level of the FebruaryApril decline crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted.
Thursday 20th June 2013
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FX - YEN |
The YEN close higher on Wednesday and the highrange close sets the stage for a steady to higher opening when Thursday'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 rally off May's high, April's low crossing is the next downside target. Closes above the 20day moving average crossing would confirm that a shortterm bottom has been posted.
Thursday 20th June 2013
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FX - SWISS FRANC |
The SWISS FRANC closed sharply higher on Wednesday. The highrange close sets the stage for a steady to higher opening when Thursday'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 rally off May's high, February's low crossing is the next downside target. Closes above the 20day moving average crossing would confirm that a shortterm bottom has been posted.
Thursday 20th June 2013
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FX - STERLING |
STERLING closed sharply lower on Wednesday and the lowrange close sets the stage for a steady to lower opening when Thursday'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 month's rally, the 75% retracement level of the FebruaryMarch decline crossing is the next upside target. Closes below the 20day moving average crossing are needed to confirm that a top has been posted.
Thursday 20th June 2013
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BULLION - GOLD |
GOLD closed sharply lower on Wednesday and the lowrange close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible nearterm. If it renews this month's decline, May's low crossing is the next downside target. Closes above the reaction high crossing are needed to confirm that a shortterm low has been posted.
Thursday 20th June 2013
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BULLION - SILVER |
SILVER closed lower on Wednesday. The lowrange close set the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bearish signalling that sideways to lower prices are possible nearterm. If it renews last week's decline, May's low crossing then the 75% retracement level of the 20082011rally crossing are the next downside target. Closes above the reaction high crossing are needed to confirm that a low has been posted.
Thursday 20th June 2013
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INDICIES - US 30 |
US30 Index CFD closed lower on Wednesday and the lowrange close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are diverging but are turning neutral to bullish signalling that sideways to higher prices are possible nearterm. Multiple closes above the 20day moving average crossing are needed to confirm that a shortterm low has been posted. If the Dow renews the decline off May's high, the 25% retracement level of the NovemberMay rally crossing is the next downside target.
Thursday 20th June 2013
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INDICIES - US 100 |
US 100 Index CFD closed lower on Wednesday and the lowrange close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signalling that sideways to higher prices are possible nearterm. Closes above the 20day moving average crossing would confirm that a low has been posted. If it extends the decline off May's high, the 38% retracement level of the NovemberMay rally crossing is the next downside target.
Thursday 20th June 2013
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INDICIES - US 500 |
US 500 Index CFD closed lower on Wednesday and the lowrange close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI have turned neutral to bullish signalling that sideways to higher prices are possible nearterm. Closes above the 20day moving average crossing would confirm that a shortterm low has been posted. If renews the decline off May's high, the 38% retracement level of the NovemberMay rally crossing is the next downside target.
Thursday 20th June 2013
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COMMODITIES - US COFFEE |
US COFFEE CFD closed higher on Wednesday and the midrange close set the stage for a steady opening on Thursday. Stochastics and the RSI are turning neutral to bearish signalling that sideways to lower prices are possible nearterm. If it renews the decline off May's high, weekly support crossing is the next downside target. Closes above the 20day moving average crossing are needed to 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.
