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 are bullish signalling that sideways to higher prices are possible nearterm. If it extends last week's rally, June's high crossing is the next upside target. Closes below the 10day moving average crossing would confirm that a shortterm top has been posted.
FX - YEN
The YEN closed higher on Monday. The midrange close sets the stage for a steady opening when Tuesday's night session begins trading. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible nearterm. Closes below the 20day moving average crossing are needed to confirm that a high has been posted. If it renews the rally off June's low, the reaction high crossing is the next upside target.
FX - SWISS FRANC
The Swiss Franc closed higher on Monday and 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. Closes below the 20day moving average crossing are needed to confirm that a shortterm high has been posted. If it renews the decline off June's low, May's high crossing is the next upside 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 are bullish signalling that sideways to higher prices are possible nearterm. Closes above the 20day moving average crossing are needed to confirm that a shortterm low has been posted. If it renews the decline off June's high, weekly support crossing is the next downside target.
BULLION - GOLD
GOLD closed higher on Monday and the midrange 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 sideways to higher prices are possible nearterm. Multiple closes above the 20day moving average crossing are needed to confirm that a shortterm low has been posted. Closes below the 10day moving average crossing would temper the nearterm friendly outlook.
BULLION - SILVER
SILVER closed higher on Monday and the highrange close set the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are 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 last Monday's low crossing would confirm that a shortterm top has been posted.
INDICIES - US 30
US30 Index CFD closed higher on Monday as it extended the rally off June's low. The highrange close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible nearterm. If the Dow extends the aforementioned rally, May's high crossing is the next upside target. 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 highrange close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible nearterm. If it extends the rally off June's low, monthly resistance crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a 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 bullish signalling that sideways to higher prices are possible nearterm. If it extends the rally off June's low, monthly resistance crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted.
ENERGY
US OIL closed higher on Monday and the highrange close sets the stage for a steady to higher opening when Tuesday's night session begins. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends the rally off April's low, the May 2011 high crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted.
NATURAL GAS closed higher on Monday and the highrange close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible nearterm. Closes above last Wednesday's high crossing are needed to confirm that a shortterm low has been posted. If it renewed the decline off May's high, the 87% retracement level of this year's rally crossing is the next downside target.
COMMODITIES - US COFFEE
US Coffee CFD closed higher on Monday and the highrange close set the stage for a steady to higher opening on Tuesday.
Stochastics and the RSI are neutral to bearish signalling that sideways to lower prices are possible nearterm. If it renews this year's decline, weekly support crossing is the next downside target. If it renews the rally off June's low, the reaction high crossing is the next upside 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.
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