Here are the levels that we have identified this week as ‘ones to watch’ from yesterday’s trade.
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I will start with the almost customary line on the latest ATH for the S&P (Futures); a 7632.25 print yesterday since when we’ve tracked back to 7576.50 overnight. Dow Futures also made a new ATH but then saw some selling to leave a Doji More on the daily chart. Ditto the NASDAQ although the last 4-5 candles on the daily have all been Doji-like. The same can be said for the DAX but this is holding above 25000 so no real concern for the bulls right now.
Bund Futures dipped to support at 125.55 yesterday where buyers stepped in. further down the curve the Bobl and Schatz are still struggling to see off strong resistance levels at 116.00 and 106.05 respectively.
Mixed trade still; EURUSD south of its 200-day SMA so leaning towards the bears in that pair.
BTCUSD has been selling off in recent days and is below 70K as I write. 65000 is the next downside target. 59930 is the YTD low.
Gains pretty much across the complex this morning. Gold and Silver both finally seeing some upside after Thursday’s bounce from key support levels.
Base Metals are also bid; yesterday and overnight, Zinc is eyeing its recent high at 3633.50 and will make new 4 year highs above there. Aluminium is leading the way, getting up to 3782 as I write, a new 4-year high; gunning for the ATH from March 2022 at 4073.50.
Brent Crude and WTI were both bid yesterday. We said yesterday that WTI holding Fibonacci support at 86.30 on Friday should cheer the bulls and indeed it did!
TTF Gas got up to 49.29 yesterday. Watch 51.54 and 52.60 on further gains. EUA Carbon saw red yesterday but we’re sticking with the bulls.
Clive Lambert FSTA – FuturesTechs
25 years of institutional expertise in the UK and European Energy Markets and 10-time Technical Analysis award winner. Clive provides industry-standard technical outlook, utilising Market Profile and Candlesticks Analysis for over 100 global trading desks.
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