My Posts
Oil May Finally Break Support Amid Chinese Tightening Fears
Commodities – Energy Oil May Finally Break Support Amid Chinese Tightening Fears Crude Oil (WTI) $81.58 -$0.51 -0.62% Prices remain wedged between resistance at $82.23 and a rising trend line established from the bottom in early February. The percent-change correlation between the WTI contract and the MSCI World Stock Index remains significant at 0.78, reflecting... [Read more]
Oil, Gold May Decline as Monthly US Deficit Hits Record
Commodities – Energy Oil May Break Support as Monthly US Deficit Hits Record Crude Oil (WTI) $81.25 -$0.24 -0.29% Prices have pulled back from resistance at $82.23 to find support at a rising trend line established from the bottom in early February, with a break lower exposing $77.53. The percent-change correlation between the WTI contract and the MSCI World Stock... [Read more]
Crude to Follow Risky Assets Lower, Gold Trading on US Yield Outlook
Commodities – Energy Crude Oil May Extend Losses on Fading Risk Appetite Crude Oil (WTI) $81.03 -$0.84 -1.03% Prices have pulled back from resistance at $82.23 to find support above the previously broken upper boundary of a Rising Wedge formation (now at $81.26). The US economic calendar is fairly light once again, with only the Department of Energy set to release their short-term... [Read more]
Oil, Gold Threatened as Greece Sinks Risky Assets
Commodities – Energy Oil Prices Threaten Support as Greek Downgrade Threat Sinks Risky Assets Crude Oil (WTI) $79.53 -$0.47 -0.59% Technical positioning is essentially unchanged from yesterday: prices at the bottom of a rising channel set from the swing low established earlier this month (now at $79.17), with a break lower exposing horizontal support... [Read more]
European Stocks Correct Higher, Bias Remains Bearish
WEEKLY STRATEGY FTSE 100 Long-term Technical Outlook The FTSE is testing channel support and a break below would strongly suggest that the advance from the 2009 low is complete. The rally is in 5 waves and is therefore probably just the first wave of a larger correction (b wave underway now). Initial support is 4955. Short-Term Technical Outlook The FTSE has found near-term support at 5316.79, the... [Read more]
European Stocks to Extend Decline as Prices Clear Key Support
WEEKLY STRATEGY FTSE 100 Long-term Technical Outlook The FTSE is testing channel support and a break below would strongly suggest that the advance from the 2009 low is complete. The rally is in 5 waves and is therefore probably just the first wave of a larger correction (b wave underway now). Initial support is 4955. Short-Term Technical Outlook The FTSE has put in an Evening Star candlestick formation... [Read more]
Oil, Gold to Rise With Risky Assets Ahead of Bernanke Testimony
Commodities – Energy Oil May Rise on Risk Recovery Ahead of Bernanke Testimony Crude Oil (WTI) $79.14 +$0.28 +0.36% Prices have dropped to the bottom of a rising channel set from the swing low established earlier this month (now at $78.48), with a break lower exposing horizontal support at $77.53 and ultimately the $76 figure. European and... [Read more]
European Stocks Drift Lower, Further Downside Expected
WEEKLY STRATEGY FTSE 100 Long-term Technical Outlook The FTSE is testing channel support and a break below would strongly suggest that the advance from the 2009 low is complete. The rally is in 5 waves and is therefore probably just the first wave of a larger correction (b wave underway now). Initial support is 4955. Short-Term Technical Outlook The FTSE has put in a Shooting Star candlestick formation... [Read more]
Oil, Gold Vulnerable as Technical Positioning, Risk Trends Favor Downside
Commodities – Energy Oil Vulnerable as Technical Positioning, Risk Trends Favor Downside Crude Oil (WTI) $79.74 -$0.07 -0.09% Prices have met significant resistance at $80.67, a former support level that is being reinforced by the top of a rising channel that has guided the upward correction that has materialized this month. Negative RSI divergence... [Read more]
European Stocks Vulnerable as Prices Approach Resistance
WEEKLY STRATEGY FTSE 100 Long-term Technical Outlook The FTSE is testing channel support and a break below would strongly suggest that the advance from the 2009 low is complete. The rally is in 5 waves and is therefore probably just the first wave of a larger correction (b wave underway now). Initial support is 4955. Short-Term Technical Outlook The FTSE is approaching a critical upside barrier... [Read more]
