Thursday 23rd May 2013
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ENERGY |
US OIL closed lower on Wednesday and the lowrange close sets the stage for a steady to lower opening when Thursday's night session begins. Stochastics and the RSI are turning neutral hinting that a double top might be in or is near. Closes below last Wednesday's low crossing would confirm that a double top has been posted. If it extends the rally off April's low, April's high crossing is the next upside target.
NATURAL GAS closed lower on Wednesday and the midrange close sets the stage for a steady opening on Thursday. 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 reaction high crossing is the next upside target. Closes below the 10day moving average crossing would confirm that a shortterm top has been posted.
Thursday 23rd May 2013
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FX - EURO |
The EURO posted a key reversal down on Wednesday. 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 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.
Thursday 23rd May 2013
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FX - YEN |
The YEN closed higher on Wednesday and the midrange close sets the stage for a steady 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 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.
Thursday 23rd May 2013
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FX - SWISS FRANC |
The SWISS FRANC closed lower on Wednesday and the midrange close sets the stage for a steady 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 the rally off last week's low, the July 2012 low crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a shortterm high has been posted.
Thursday 23rd May 2013
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FX - STERLING |
STERLING 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 remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends this month's decline, March'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.
Thursday 23rd May 2013
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BULLION - GOLD |
GOLD 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 hinting that a low might be in or is near. 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.
Thursday 23rd May 2013
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BULLION - SILVER |
SILVER closed lower on Wednesday and the lowrange close set the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are 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 extends this month's decline, the 75% retracement level of the 20082011rally crossing is the next downside target.
Thursday 23rd May 2013
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INDICIES - US 30 |
US30 Index CFD posted a key reversal down on Wednesday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible nearterm. The lowrange close sets the stage for a steady to lower opening on Thursday. 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.
Thursday 23rd May 2013
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INDICIES - US 100 |
US 100 Index CFD posted a key reversal down 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 bearish hinting that a shortterm top might be in or is near. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted. If it extends the aforementioned rally, weekly resistance crossing is the next upside target.
Thursday 23rd May 2013
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INDICIES - US 500 |
US 500 Index CFD posted a key reversal down 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 bearish hinting that a shortterm top might be in or is near. 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.
Thursday 23rd May 2013
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COMMODITIES - US COFFEE |
US COFFEE CFD closed sharply lower on Wednesday and the lowrange close set the stage for a steady to lower opening on Thursday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible nearterm. If it extends the aforementioned decline, weekly support 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.
