| 50% | 50% |
Tuesday 21st May 2013
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ENERGY |
US OIL closed higher on Monday and the highrange close sets the stage for a steady to higher opening when Tuesday's night session begins. Stochastics and the RSI are turning 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 last Wednesday's low crossing would confirm that a shortterm top has been posted.
NATURAL GAS closed higher on Monday. Profit taking tempered early gains and the lowrange close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI have turned 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 the decline off May's high, the 50% retracement level of this year's rally crossing is the next downside target.
Tuesday 21st May 2013
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FX - EURO |
The EURO closed higher due to short covering on Monday and the highrange close sets the stage for a steady to higher opening when Tuesday'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.
Tuesday 21st May 2013
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FX - YEN |
The YEN closed lower on Monday and the lowrange close sets the stage for a steady to lower opening when Tuesday'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, monthly resistance crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a shortterm high has been posted.
Tuesday 21st May 2013
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FX - SWISS FRANC |
The SWISS FRANC closed lower on Monday and the lowrange close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI remain neutral to bullish signalling that sideways to lower prices are possible nearterm. If it extends the rally off last week's high, 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.
Tuesday 21st May 2013
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FX - STERLING |
STERLING closed higher on Monday and the highrange close sets the stage for a steady to higher opening when Tuesday'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.
Tuesday 21st May 2013
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BULLION - GOLD |
GOLD posted a key reversal up on Monday and the highrange close sets the stage for a steady to higher opening when Tuesday'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, 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.
Tuesday 21st May 2013
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BULLION - SILVER |
SILVER closed higher on Monday and the highrange close set the stage for a steady to higher opening when Tuesday'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 75% retracement level of the 20082011rally crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a low has been posted.
Tuesday 21st May 2013
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INDICIES - US 30 |
US30 Index CFD closed lower on Monday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible nearterm. The midrange close sets the stage for a steady opening on Tuesday. 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.
Tuesday 21st May 2013
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INDICIES - US 100 |
US 100 Index CFD closed slightly lower due to profit taking on Monday. The midrange close sets the stage for a steady opening when Tuesday'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.
Tuesday 21st May 2013
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INDICIES - US 500 |
US 500 Index CFD closed slightly lower on Monday and the lowrange close sets the stage for a steady to lower opening when Tuesday'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.
Tuesday 21st May 2013
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COMMODITIES - US COFFEE |
US COFFEE CFD closed lower on Monday as it extended the decline off May's high. The lowrange close set the stage for a steady to lower opening on Tuesday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible nearterm. If it extends the aforementioned 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.
On 15th June 2011, around 12:00 GMT, the price of Spot Gold was 1516.50 (bid) – 1517.00 (offer).
You believe the price of gold will fall so you take a sell position of 100 oz., (equivalent to $5 per tick, tick size 0.05), at the bid price of $1516.50 per oz.
Unfortunately, the price of gold rises, and at around 14:00 GMT, the price of gold was at 1524.00 (bid) – 1524.50 (offer).
You decide at this point cut your losses, so you close your position at the offer price of $1524.50 per oz.
The price of gold rose by $8.00 per oz. ($1524.5 - $1526.5 = $8.00), and, as your position was equivalent to 100 oz., you realize a loss of $800 (100 oz X $8.00 per oz.).
Open Price : $1516.50
Close Price : $1524.50
Difference : $8.00 (160 ticks)
Loss : $800
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The cut-off time for all Finance Fees calculations, and also generating statements, is set for all our products to 20:00 GMT when Daylight Saving Time applies in the US and 21:00 GMT when the US changes back to Standard Time. All orders executed before the cut-off time will appear on today's statement. All orders executed after the cut-off time will appear on next day's statement.
Gold is a superior industrial commodity with properties that make it an excellent product for the making of jewelry and minting coins.
The largest producers of gold are South Africa, the US, Australia and China. Gold is always seen as a stable investment when economies are in a state of panic with such occurrences as acts of terrorism or war. Gold has an inverse relationship with the USD.
