S&P Analysis(1327,30) The S&P found good support above 1320 for now but only a move above 1340 will confirm a s/t bottom supporting higher levels and confirming a double bottom in the hourly chart. The indicators of the daily chart are still well negative but also still showing potential positive reversals and they are close to the oversold area. Continue Reading… DAX Analysis(6374) The DAX confirmed still a negative closing but at least it managed to recover above 6354, the previous day’s low. The indicators of the daily chart are still well negative as well as those of the 4h one. Only the indicators of the hourly chart turned already above the line supporting a possible correction. Continue Reading… European Markets PreviewMajor European bourses are initially seen trading moderately higher Thursday, with a small pick-up seen in equity futures contracts as the European cash opening approaches. Some mild overnight profit taking in risk assets has been observed during the Asian traded hours, with Japan’s Nikkei 225 Index ending the session up 0.86% at 8876.59. Continue Reading… Bund Technical Analysis(143,13) The BUND confirmed a few test of the 142,89 level but it failed to confirm a closing below that level. We may see another test today that we expect to manage a break of the support launching a correction toward the 200 hours line at 142,13!! Continue Reading… Natural Gas AnalysisNymex June natural gas prices are trading higher Thursday extending gains from a strong previous session. June natural gas futures posted a 2.5 month high amid supportive supply and demand fundamentals and expectations for another light weekly inventory build. Continue Reading… Asian markets mostly higher…Asian markets mostly higher Thursday, stabilizing after heavy selling Wednesday, as worries subsided for now over Europe as Greece prepares to hold fresh elections in June. While uncertainty persists over the future of Greece’s role in the euro zone, some positives emerged Wednesday with well-received debt auctions by France and Germany, as well as strong economic data out of the U.S. Continue Reading… European Markets SummaryLondon Stocks End Down But Off Session Lows FTSE 100 ends down 0.6% at 5405.25, though off its session low of 5354.0. Well-received US economic data help sentiment somewhat, but Greece’s problems still weigh. Will Hedden at IG Markets says financial institutions are preparing for a Greek exit from the euro. Continue Reading… S&P Analysis(1333,80) The S&P confirmed our s/t target(that we did not follow!!!!!!!!!) managing even a test of the 1321,00 area before rebound higher. There is still another target at 1309,70. Soybeans Market AnalysisJuly soybeans were trading 19 1/2 cents lower late in the overnight session. China futures closed down 0.5% overnight and down for the 4th session in a row. Palm oil futures in Malaysia closed down 3.9% to a new 3-month low. Continue Reading… Silver Market AnalysisNot surprisingly July silver has followed gold and other physical commodity prices down in the wake of a chorus of predictions that Greece will exit the Euro zone. Another element that is keeping up the pressure on silver and other physical commodity markets is the fear that either Spain or Italy could be poised for another bout of financial instability directly ahead. Continue Reading… |