Copper Market AnalysisRelatively speaking the copper market appears to have held up better than the rest of the metals complex overnight. Perhaps copper prices were underpinned by news that Shanghai copper stocks on the week declined by 8,135 tons, especially since the copper market also saw a daily decline of 4,575 tons in LME copper stocks overnight. Continue Reading… Coffee Market AnalysisJuly coffee has found mild strength this morning, and continues to hold just above the recent lows. A modest rally in US equity markets has provided some measure of support to coffee this morning, although the market’s reaction to today’s US Employment data will be critical to whether July coffee can remain above the 175.00 level during the session. Continue Reading… Bund Technical Analysis(141,72) The BUND still missed to confirm our target at 141,91, but it is still well bid suggesting further upside potential. In the s/t only a break below 141,25 will support a deeper correction with the 200 hours line at 140,70 the attraction. Continue Reading… DAX Analysis(6670) The DAX is still consolidating interior the negative outside day with 6895 – 6658 the levels to follow in the coming hours. Only a daily closing below 6658 will support lower levels suggesting a retest of the 6500 area!! Continue Reading… EUROSTOXX 50 Analysis(2233) The EUROSTOXX 50 confirmed another negative closing managing however to remain above the 2223 level. Only an hourly closing below this support will cause further weakness suggesting a retest of the 2177 low! Continue Reading… Natural Gas AnalysisNymex June natural gas prices are consolidating around $2.346 after some strong gains yesterday afternoon saw prices advance to $2.380. So far prices have held around $2.321 during the Asian session, with the market edging its way back to the upside. Continue Reading… European Markets SummaryLondon Stocks Close Slightly Higher FTSE 100 closes 0.1% higher at 5766.55, in the black but off session highs with the market likely reacting to the fact that the ECB offered no hint on further stimulus measures at its post rates decision press conference. Continue Reading… Soybeans Market AnalysisJuly soybeans were trading 1/2 of a cent lower late in the overnight session. China futures were down 0.7% overnight. Palm oil futures in Malaysia were down 2.4%. Asian equity markets were weaker ahead of the European debt auctions overnight. Continue Reading… Silver Market AnalysisWith another new low for the move overnight July silver reached down to the lowest level since April 25th. Residual fears of slowing in the US, concern toward rising debt yields in the Euro zone and lackluster physical demand expectations has left the bear camp confident. Continue Reading… Natural Gas Market AnalysisJune natural gas prices took on a slightly higher track during the initial morning hours as they tried to consolidate yesterday’s sell off. It is possible that some of the downside action in the market yesterday came from reports of a large energy hedge fund manager closing its fund, and potentially unwinding positions. Continue Reading… |