S&PJune contract
Emini S&P holds what is now the 3 week high at 2677/79. Shorts need stops above 2685. A sustained break above here is needed to target 2687/89, 2694/97 & a selling opportunity at 2700/05, with stops above 2715.
There is quite important resistance at 2675/80 & failure here this week targets 2665/2660 & minor trend line support at 2655 before better support at 2650/47. A break below 2640 signals further weakness to 2632/30. A break below 2625 then targets 2618/16 & the most important support of the week at 2613/10.
WTI Crude May contract
WTI Crude lower today in overbought conditions. First support at 6640/30 but below here targets 6600 before best support today at 6550/45. Longs need stops below 6520.
Minor resistance at 6715/20 with 8 month trend line & last week's high at 6760/76. A break above 6795/99 targets 6835/40, perhaps as far as 6875/80. On further gains look for 6910 & 6950/55.
The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.
Recommended Content
Editors’ Picks
EUR/USD trades weak below 1.0800 amid Good Friday lull, ahead of US PCE
EUR/USD remains depressed below 1.0800, as traders lack directional impetus amid minimal volatility and thin liquidity on Good Friday. The pair keenly awaits the US PCE inflation data and Fed Chair Powell's speech for fresh hints on next week's price action.
GBP/USD holds steady above 1.2600 as markets stay calm on Good Friday
GBP/USD trades sideways above 1.2600 amid a typical Good Friday trading lull. A broadly firmer US Dollar could keep any upside attempts limited in the pair ahead of the US PCE inflation data and Fed Chair Powell's appearance.
Gold ends Q1 2024 at record highs, what’s next?
Gold is sitting at an all-time high of $2,236, lacking a trading impetus amid holiday-thinned conditions on Good Friday. Most major world markets, including the United States are closed in observance of Holy Friday, leaving volatility around Gold price highly subdued.
Ripple's move above this key level could trigger nearly 50% rally for XRP
Ripple price has overcome a critical resistance level and flipped into a support floor on the weekly time frame. This development happened while XRP tightly consolidated for roughly 250 days.
US core PCE inflation set to ease in February on month as Federal Reserve rate cut bets for June mount
The core Personal Consumption Expenditures Price Index is set to rise 0.3% MoM and 2.8% YoY in February. The revised Summary of Projections showed that policymakers upwardly revised end-2024 core PCE forecast to 2.6% from 2.4%.