Other Markets
GOLD ANALYSIS
Spot Gold prices have advanced in London this morning, after the market yet again failed at its attempt to consolidate above $1625 yesterday. Prices slipped back after the European equity cash closes yesterday to trade down to $1606.55, with that area now deemed as a short-term support level.
S&P ANALYSIS
(1284,50)The S&P is confirming a break above 1282,40 but only a daily closing will confirm the break supporting the suggested 1300 overshooting. The indicators of the daily chart are well positive pointing toward higher levels.
Technical Focus: Industrial metals weekly
Copper – still in the bear triangle Nickel – short term unclear Alu – key support still in focus Zink – soon time to resell Steel billets – 55/233d ma bands capping
CRUDE OIL ANALYSIS
(101,99) CRUDE OIL confirmed yesterday a test of the 100,10 level where it found however good support favouring a resumption of the move up, already last night with an overshooting of the 200 hours line, now s/t support at 101,21.
BUND ANALYSIS
German government bonds are opening lower Tuesday amid risk-on trades overnight after Alcoa reported better than expected revenue, depsite negative warnings on its earnings after the market close.
STOXX 50 ANALYSIS
(2303)The EUROSTOXX 50 is confirming a rebound this morning after the drop yesterday that confirmed an undershooting of the 200 hours line, now again support at 2292. The indicators of the daily chart are still positive but those of the s/t ones are still showing a mixed picture.
DAX ANALYSIS
(6102) The DAX formed yesterday a positive day reversal after a test of the 6000 area where it found good support. The indicators of the daily chart are still well positive and this morning also those of the s/t ones are turning above the line supporting a possible resumption of the move up.
BUND ANALYSIS
(138,80)The BUND formed a small negative day reversal but only a daily closing below 138,49 tonight will confirm a s/t top favouring a deeper correction. The BUND is however finding good resistance above 139.
GOLD ANALYSIS
Spot Gold prices eased back yesterday in relatively calm trading conditions on the back of softer crude oil prices despite a weaker USD Index. Lack of fresh developments following yet another inconclusive Merkel/Sarkozy meeting led to a rather indifferent bullion market with the metal trading a $1605.20-1623.75 range after opening in Asia at $1617.50.
CRUDE OIL ANALYSIS
Nymex Crude Oil prices had a mixed day yesterday amid another inconclusive outcome from a Merkel/Sarkozy meeting. Some negative news on the eurozone and the resignation of SNB chief Hildebrand along with further pessimism over Greece’s ability to remain in the Euro, kept Oil prices slightly depressed despite a relatively stable EUR/USD.
The difference between speculating and investing
Many professional investors have been led to believe that Mr. Market is always right and assets (whether real or not) will always be correctly priced because university and college professors for countless years have ‘spewed’ the efficient market hypothesis. This has pushed most investors into the land of speculation, where ‘I will buy an asset […]
GOLD ANALYSIS
Spot Gold prices eased slightly into the weekend on the back of a stronger USD, but falls were pared by renewed worries in the eurozone prompting some safe-haven demand and bargain dip buyers who continue to pick up on any sudden sell-offs in the market. The GOLD opened on Friday at $1622.70 hitting highs of […]