HY Markets Research Team
HY Markets
FX - EURO
THE EURO closed lower 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 neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends this week's decline, the 25% retracement level of the July October rally crossing is the next downside target.
FX - YEN
THE YEN 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 sideways to higher prices are possible nearterm. If it extends the rally off this month's low, the reaction high crossing is the next upside target. Closes below the 10day moving average crossing would confirm that a shortterm high has been posted.
FX - SWISS FRANC
THE SWISS FRANC closed lower 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 neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends this month's rally, the 38% retracement level of the May October decline crossing is the next upside target. Closes below the 10day moving average crossing are needed to confirm that a shortterm bottom has been posted.
FX - STERLING
STERLING closed lower 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 neutral to bearish signalling that sideways to lower prices are possible nearterm. Multiple closes below the aforementioned uptrend line would confirm a trend change while opening the door for a largerdegree decline during October. Closes above the 20day moving average crossing would confirm that a shortterm low has been posted.
BULLION - GOLD
GOLD closed higher on Monday and the lowrange close sets the stage for a steady opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to 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 extends the decline off August's high, the 75% retracement level of the June August rally crossing is the next downside target.
BULLION - SILVER
SILVER closed higher on Monday. The highrange close set the stage for a steady to higher 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 the decline off August's high, the 75% retracement level of the June August rally crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a low has been posted.
INDICIES - US 30
US30 Index CFD closed higher on Moday. Today's midrange close sets the stage for a steady opening on Tuesday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible nearterm. If the Dow extends the rally off this month's low, the reaction high crossing is the next upside target. Closes below the 10day moving average crossing would confirm that a shortterm low has been posted.
INDICIES - US 100
US 100 Index CFD 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 remain bullish signalling that sideways to higher prices are possible nearterm. If it extends the rally off last week's low, weekly resistance crossing is the next upside target. Closes below the 10day moving average crossing would confirm that a shortterm top has been posted.
INDICIES - US 500
US 500 Index CFD closed higher on Monday. Today's 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 the rally off this month's low, September's high crossing is the next upside target. Closes below the 10day moving average crossing would confirm that a shortterm top has been posted.
ENERGY
US OIL closed lower on Monday. The lowrange close sets the stage for a steady to lower opening when Tueday's night session begins. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible nearterm. Closes above the 20day moving average crossing are needed to confirm that a low has been posted. If it extends the decline off August's high, the 50% retracement level of the April August rally crossing is the next downside target.
NATURAL GAS closed lower on Monday. The loqrange close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends the rally off this month's low, the reaction high crossing is the next upside target. Closes below Monday's low crossing would confirm that a shortterm top has been posted.
COMMODITIES - US COFFEE
US Coffee CFD closed lower on Monday. The lowrange close set the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible nearterm. Closes above the reaction high crossing are needed to confirm that a low has been posted. If it renews this summer's decline, monthly 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.
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