HY Markets Research Team
HY Markets
FX - EURO
The EURO 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 bullish signalling that sideways to higher prices are possible nearterm. If it extends this month's rally, the 75% retracement level of the February April decline crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted.
FX - YEN
The YEN closed lower on Monday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends the rally off June's low, the reaction high crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a shortterm high has been posted.
FX - SWISS FRANC
The Swiss Franc closed higher on Monday. The lowrange close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible nearterm. If it extends last week's decline, the reaction low crossing is the next downside target.
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 bearish signalling that sideways to lower prices are possible nearterm. If it extends the decline off June's high, the reaction low crossing is the next downside target. Closes above the 10day moving average crossing would confirm that a shortterm low has been posted.
BULLION - GOLD
GOLD closed higher on Monday. The highrange close sets the stage for a steady to higher opening when Tuesday'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 shortterm low has been posted. If it renews this month's decline, April's low crossing is the next downside target.
BULLION - SILVER
SILVER closed higher on Monday. The midrange close set the stage for a steady opening when Tuesday's night session begins trading.
Stochastics and the RSI are 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 this month's decline, the 75% retracement level of the 20082011rally crossing is the next downside target.
INDICIES - US 30
US30 Index CFD closed higher on Monday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible nearterm. The highrange close sets the stage for a steady to higher 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.
INDICIES - US 100
US 100 Index CFD closed higher on Monday and 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.
INDICIES - US 500
US 500 Index CFD 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 bullish signalling that sideways to higher prices are possiblenearterm. 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.
ENERGY
US OIL closed lower on Monday and the midrange close sets the stage for a steady opening when Tuesday's night session begins. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible nearterm. If it extends the aforementioned rally, February's high crossing is the next upside target. Closes below the 20day moving average crossing would temper the nearterm friendly outlook.
NATURAL GAS closed higher on Monday. The highrange close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are oversold but remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends the decline off May's high, the 75% retracement level of this year's rally crossing is the next downside target. Closes above the 20day moving average crossing would confirm that a shortterm low has been posted.
COMMODITIES - US COFFEE
US Coffee CFD closed lower on Monday. The midrange close set the stage for a steady opening on Tuesday. Stochastics and the RSI 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. Closes above the 20day moving average crossing would confirm that ashortterm 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.
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