| 50% | 50% |
Friday 17th May 2013
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ENERGY |
US OIL closed higher on Thursday and the midrange close sets the stage for a steady opening when Friday's night session begins. Stochastics and the RSI are turning bearish signalling that sideways to lower prices are possible nearterm. If it extends this month's decline, November'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.
NATURAL GAS closed sharply lower on Thursday. The lowrange close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI remain neutral to bullish signalling that additional gains are possible nearterm. If it extends the rally off January's low, weekly resistance crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted.
Friday 17th May 2013
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FX - EURO |
The EURO closed lower on Thursday and the midrange close sets the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near term. If it extends this month's rally, the 50% retracement level of the FebruaryApril's decline crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted.
Friday 17th May 2013
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FX - YEN |
The YEN closed higher on Thursday and the midrange close sets the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI have turned bullish signalling that sideways to higher prices are possible nearterm. Closes below the 10day moving average crossing are needed to confirm that a high has been posted.
Friday 17th May 2013
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FX - SWISS FRANC |
The SWISS FRANC closed hlower on Thursday and the midrange close sets the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible nearterm. If it extends last week's decline, the 50% retracement level of the FebruaryMarch rally crossing is the next downside target.
Friday 17th May 2013
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FX - STERLING |
STERLING closed higher on Thursday and the midrange close sets the stage for a steady opening when Friday'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 rally off March's low, the 50% retracement level of this year's decline crossing is the next upside target.
Friday 17th May 2013
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BULLION - GOLD |
GOLD closed lower on Thursday and the midrange close sets the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI have turned bearish signalling that additional weakness is possible nearterm. If it extends the decline off last October's high, the 62% retracement level of the 20082011 rally crossing is the next downside target. Closes above the 20day moving average crossing would confirm that a shortterm low has been posted.
Friday 17th May 2013
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BULLION - SILVER |
SILVER closed higher on Thursday and the highrange close set the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are turning bearish signaling that sideways to lower prices are likely nearterm. If it extends the aforementioned decline, monthly support crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a low has been posted.
Friday 17th May 2013
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INDICIES - US 30 |
US30 Index CFD closed lower on Thursday and the lowrange close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are turning neutral to bearish signalling that a shortterm top might be in or is near. Closes below the reaction low crossing are needed to confirm that a shortterm top has been posted. If the Dow extends the rally off November's low into uncharted territory, upside targets will be hard to project.
Friday 17th May 2013
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INDICIES - US 100 |
US 100 Index CFD closed lower on Thursday and the lowrange close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible nearterm. Closes below the reaction low crossing are needed to confirm that a shortterm top has been posted. If it renews the rally off November's low, September's high crossing is the next upside target.
Friday 17th May 2013
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INDICIES - US 500 |
US 500 Index CFD closed lower on Thursday. The lowrange close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are bearish hinting that a shortterm top might be in or is nea. Closes below the reaction low crossing are needed to confirm that a shortterm top has been posted. If it renews the rally off November's low, weekly resistance crossing is the next upside target.
Friday 17th May 2013
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COMMODITIES - US COFFEE |
US COFFEE CFD closed lower on Thursday and the midrange close sets the stage for a steady opening on Friday. Stochastics and the RSI are bullish hinting that a low might be in or is near. Closes above the 20day moving average crossing are needed to confirm that a shortterm low has been posted. If it renews the decline off January's high, weekly support crossing is the next downside target.
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 10:00 GMT, the price of US Oil CFD, (July Expiry), was 99.00 (bid) – 99.06 (offer).
You believe the price of US oil will drop so you take a sell position of 1,000 barrels, (equivalent to $10 per tick), at the bid price of $99.00 per barrel.
You were correct, and the price of US oil did drop sharply and a few hours later, around 14:00 GMT, the price of US oil was at 94.80 (bid) – 94.86 (offer).
You decide to realize your profit and close the position at the offer price of $94.86 per barrel.
The price of this US Oil CFD contract dropped by $4.14 per barrel, and as you had a sell position of 1,000 barrels; you realized $4,140 profit, ($4.14 per barrel X 1,000 barrels).
Open Price : $99.00
Close Price : $94.86
Difference : $4.14 (414 ticks)
Profit : $4,140
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Brent oil is ideal for production of gasoline and middle distillates. It is typically refined in Northwest Europe, but when the market prices are favourable for export, it can also be refined in the East or Gulf coasts of the United States or in the Mediterranean region.
