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,
FuturesTechs is looking to add to it’s Forex coverage in the coming weeks and months, and re-vamping our website to make it more “user friendly” for Individual traders, with extra emphasis on Forex.
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
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
In yesterday’s Gold report we wrote: “Are we on the cusp of something trend changing, or will the bulls rescue things once more by keeping us above 1524? We could well have the answer to this by the end of the day”.
We saw a break of 1524, and on a closing basis, so here’s what we sent
For today’s Forex “Lunch” Report we looked at the Dollar Index . As well as covering 4 major FX Crosses every morning we also send out a lunchtime update on anything that’s of interest in FX Land!
Below (click on the picture to get a full size version!) is today’s chart for the Dollar Index, showing reasons to think we
This morning’s reports on Silver and the FTSE would have reaped dividends for our clients, for different reasons.
Here’s the text of the FTSE Futures report:
We have posted the “all sessions” chart today because it’s actually a bit cleaner, and also shows what we’ve seen overnight; selling.
Selling to the 200 day MA as well, this well watched
We have posted today’s Gold comment below. In European trade we have seen a hold of our key support level of 1486.9-1487.7, so the trendline is holding firm, suggesting this is a buying opportunity. We now need to see 1500 taken out…
Today’s comment, sent to our clients at 07.30am (UK time):
Gold struggled with $1500 yesterday, pretty much
Last week we posted a Blog about the potential Head and Shoulders pattern forming in the FTSE Futures. Things got interesting with respect to this yesterday, which was the crux of our morning report, reproduced below.
The fact that we’re not breaking this line PROPERLY does suggest the market’s ambilvalence is set to continue.
Towards the European close yesterday