All week now we’ve been suggesting that Marabuzo support at 1720.6 would be a good place for a buy order. Yesterday this was proved in some style. Just prior to the FOMC announcement we got a 1720 print. Then we got the nod on “QE3” from the Fed, and Gold ramped, getting up to 1775 by the end of the session. What now
A number of intertesting developments on this chart in recent days. Here’s what we wrote today:
Instead of gapping higher the NASDAQ failed at the previous days high and Marabuzo resistance. Selling down to 2775.25 was seen before a recovery into the close resulted in little change from the opening level.
Like the Dow and
This is what we sent to our clients on Monday talking about Corn Futures:
Last week’s low was 788 so bold support at 786 held firm, keeping the bulls in the box seat.
I’m not sure the scale of chart we were posting on here recently did justice to the power of the move that preceded the recent sideways consolidation,
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Below is an excerpt from today’s report for EURGBP:
Yesterday we said: ‘Buying dips to 7970 with a stop below 7940 is the play for today. Upside
Here is an excerpt from our FTSE Futures report that was sent to our clients at 6.48 (UK time) this morning. As you can see our trade idea was to sell at 5745 with targets at 5720, 5695 and 5670. We have hit the first target and suggest stop is now moved to entry.
Yesterday’s first hour saw a rally
Is Gold getting interesting? We saw a move in Silver yesterday that suggests so…
This is a segment of yesterday’s commentary:
“Ultimately gold remains within a medium term consolidation in a multi week up trend so buyers will likely appear at trend support.
Our Skew remains neutral awaiting 2 consecutive closes above 1328.2-31.6 to back the bulls, or a break
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Although London moved from Floor to
Below is the commentary and chart from the FTSE Futures report sent to our clients this morning prior to the open. We had a look at the “bigger picture” today, and it’s an interesting chart…
The short term charts are easy to “read” at the moment. We have seen two failures at 5860, with 5795 the low between these
Our Natural Gas commentary from this morning highlighted a developing pattern that suggests yesterday’s gains presented a selling opportunity. Here’s a snippet from our report:
I’ve added a line to today’s chart which is slightly tentative but may be confirmed by price action today if we keep 2.837-2.857 in the resistance column.
The line is a Neckline, classing recent price
Things might be happening in the Euribor. Below I’ve posted the last couple of days’ analysis for the June ’13 contract to paint the picture:
June ’13 is testing the top of a channel that’s been on our chart for a while, in fact the this line gave us Friday’s 99.765 high.
99.825 is the next target