| 50% | 50% |
Friday 24th May 2013
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ENERGY |
US OIL closed slightly higher on Thursday and the highrange close sets the stage for a steady to higher opening when Friday's night session begins. Stochastics and the RSI are turning bearish hinting that a double top might be in or is near. Closes below last Wednesday's low crossing are needed to 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 higher on Thursday as it extends this week's rally. The highrange close sets the stage for a steady to higher opening on Friday. 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.
Friday 24th May 2013
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FX - EURO |
The EURO closed higher due to short covering on Thursday. The highrange close sets the stage for a steady to higher opening when Friday's night session begins trading. 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 the decline off May's high, April's low crossing is the next downside target.
Friday 24th May 2013
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FX - YEN |
The YEN 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 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.
Friday 24th May 2013
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FX - SWISS FRANC |
The SWISS FRANC 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 remain neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends this month's 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.
Friday 24th May 2013
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FX - STERLING |
STERLING closed higher on Thursday and the highrange close sets the stage for a steady to higher opening when Friday'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.
Friday 24th May 2013
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BULLION - GOLD |
GOLD closed higher on Thursday as it extended the trading range of the past five days. The highrange close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are turning 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 this month's decline, April's low crossing is the next downside target.
Friday 24th May 2013
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BULLION - SILVER |
SILVER closed slightly higher on Thursday. The highrange close set the stage for a steady to higher opening when Friday'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 renews this month's decline, the 75% retracement level of the 20082011rally crossing is the next downside target.
Friday 24th May 2013
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INDICIES - US 30 |
US30 Index CFD closed lower on Thursday leaving yesterday's key reversal down unconfirmed. Stochastics and the RSI are turning neutral to bearish hinting that a shortterm top might be in or is near. The highrange close sets the stage for a steady to higher opening on Friday. 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.
Friday 24th May 2013
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INDICIES - US 100 |
US 100 Index CFD closed lower on Thursday following yesterday's key reversal down. A short covering rally tempered early session losses and the highrange close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are turning 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.
Friday 24th May 2013
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INDICIES - US 500 |
US 500 Index CFD closed lower on Thursday as it extends Wednesday's decline. A short covering rally tempered early session losses and the highrange close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are turning bearish hinting that a shortterm top might be in or is near. Closes below the 20day moving average crossing are needed to confirm that a shortterm top has been posted.
Friday 24th May 2013
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COMMODITIES - US COFFEE |
US COFFEE CFD closed higher due to short covering on Thursday as it consolidates some of this month's decline. The highrange close set the stage for a steady opening on Friday. Stochastics and the RSI are oversold but remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends the aforementioned decline, 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 11:00 GMT, the Apple share price was 328.80 (bid) – 329.40 (offer).
You believe the share price of Apple will fall so you take a sell position of 100 shares, ($1 per tick), at the bid price of $328.80 per share.
As you predicted the share price does fall and at around 115.30 GMT, the price of Apple was at 325.40 (bid) – 326.00 (offer).
At this point you decide to realize your profit and close the position. You take a buy position of 100 Apple shares at the offer price of $326.00.
The price you closed at, $326.00 per share, is $2.80 lower than the price you sold at initially. You therefore realize a profit of $280 ($2.80 per share X 100 shares).
Open Price : $328.80
Close Price : $326.00
Difference : $2.80 (280 ticks)
Loss : $280
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