Daily Forecast - 19 February 2016
WTI Crude March contract
WTI Crude holding below 3050/40 as I write which keeps the pressure on for 3000, 2970 & perhaps as far as support at 2950/40. Buying looks risky today & losses target 2875/70.
First resistance at 3055/60 but above here allows a recovery to 3150/60. Exit any longs & try shorts up to 3190/3200. Stop above 3245 but look for the next selling opportunity at 3300/3310. Shorts need stops above 3350. Just be aware that a break higher meets very strong resistance at 3440/50 for an excellent selling opportunity.
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EUR/USD faces a minor resistance near at 1.0750
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Gold holds around $2,330 after dismal US data
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Bitcoin price continues to get rejected from $65K resistance as SEC delays decision on spot BTC ETF options
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US economy: slower growth with stronger inflation
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