London Stocks End With Solid Gains

FTSE 100 closes up 1.9% at 5403.28, with miners pacing the advance amid signs that Chinese authorities may act to boost growth. Fresnillo +5.2% and Antofagasta +4.5%. Investors adopt an optimistic view ahead of Wednesday’s EU summit, hoping that euro-zone leaders will agree more measures to tackle the region’s debt crisis. Continue Reading…

(1581,30) GOLD formed yesterday a small negative day reversal but only a daily closing below 1584,50 will confirm a s/t top. The indicators of the daily chart are still negative while those of the s/t ones are mixed supporting some consolidation/ correction. Continue Reading…

(92,67) CRUDE OIL formed yesterday a positive day reversal but only a daily closing above 93,34 will confirm a s/t bottom supporting higher levels. The indicators of the daily chart are well negative but still also well oversold and showing potential positive reversals. Continue Reading…

(6400) The DAX is struggling to confirm an hourly closing above 6400. While above 6350 we do however still favour a move toward our s/t target at 6455, if not even the 200 hours line at 6477. We already sold half the position at 6397 and keep the rest for a possible 6450 overshooting. We put a stop at 6345! Continue Reading…

July soybeans were trading 4 3/4 cents lower near 7:30 am. China futures closed down 0.1% in quiet trade overnight. Palm oil futures in Malaysia closed 0.4% higher. Hong Kong shares finally managed a small rise last night and in the process that market broke a long chain of daily losses. Continue Reading…

Like gold, the silver market isn’t benefiting from a series of easing hints from widely diverse geographical areas. While the markets apparently need to see proof of an actual shift from austerity policies to growth policies in Europe, there are some players who think that the issue of a possible Greek exit is simply serving to trump the potential benefit of a shift toward growth policies. Continue Reading…

July cocoa was able to recover from an early plunge below the key 2220 level but is having trouble climbing all the way back into positive territory this morning. A negative shift in macro-economic sentiment is clearly weighing on physical commodities this morning, and today’s OECD forecasts for negative Euro zone growth may cause some concerns over cocoa demand from that region throughout the rest of this year. Continue Reading…

July natural gas prices had a higher open Monday evening but have been unable to build on those early gains. Yesterday’s negative price action leaves Friday’s high of $2.838 as resistance and favors a deeper downside correction in the near term. Continue Reading…

July wheat was trading 15 1/2 cents lower near 7:30 am central time. Outside market forces look mixed to weaker as the stronger USD and weakness in gold clash with a firm equity market. Continue Reading…

(143,31) The BUND just confirmed with the closing at 10.00 CET below 143,17 a small S_H_S formation with the neck line, now resistance, at 143,33. While below this line we expect further weakness toward the 200 hours line, now at 142,74. Continue Reading…