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Reports for
19/12/2014
  • Copper Futures REPORT
    19/12/14
    Copper immediate support at 2.844/843 but be ready to go with a break lower again to target 2.827/825. If we continue lower today look for 2.801/2.795. Any further losses this week risk a retest of December lows at 2.777. We need to beat 2865 for the chance of a recovery today to target resistance at 2.893/98. Try shorts with stops above 2.910. However an unexpected break higher then offers the next selling opportunity at 2.926/930, but our shorts need a stop above 2.945.
  • Silver Futures REPORT
    19/12/14
    Silver again faces resistance at 1590/1595 this morning but a break higher again targets 1620/1625. If we continue higher look for a selling opportunity at 1645/50 today. Try shorts with a stop above 1667. Be ready to go with a break higher to target strong resistance at 1695/1700. Failure to beat strong resistance at 1590/1595 keeps the market under pressure to retest yesterday's low at 1575/74 then this week's low at 1560/55. If we continue lower today, look for a test of the next support at 1525/1520. Any longs here will need a stop below 1500.
  • EURGBP REPORT
    19/12/14
    EURGBP collapsed below 7910/7905 & unexpectedly broke 7870/65 to test 2 month trend line support at 7835. This is key to direction today. A good chance we can hold on here for a recovery to target 7855/65. If we continue higher look for 7895, perhaps as far as a selling opportunity at 7905/15. Try shorts with stops above 7930. It may be worth trying longs at 7835/30 with stops below 7820. Be ready to go with a break lower using 7835 as resistance & look for a move towards 7810/05 then November lows at 7795. If this does not hold the downside we risk a retest of September/October lows at 7761/58.
  • AUDJPY REPORT
    19/12/14
    AUDJPY unexpectedly beat 9695/9705 to hit our next targets of 9745 then 9765/9775 & topped exactly here at 9761. However be ready to go with a break above 9775 today to target strong resistance at 9800/9810. Try shorts with stops above 9840. Once again we must be ready to go with a break using 9810 as support for a move towards 9855 then 9875/78. Immediate support at 9700/95 could hold the downside now but below here targets 9665/60 then good support at 9630/9615. This area should hold the downside and is worth trying longs with a stop below 9595. A break lower however sees 9615/9620 act as resistance for a move down to 9570 then 9550/9545. Any further losses risk a retest of this week's low at 9529/9518.
  • Emini Dow Jones REPORT
    19/12/14
    Emini Dow Jones saw a near 500 point gain yesterday to take as back up to last week's midweek highs at 17,702/738. A break above yesterday's high of 17,744 is obviously positive and targets 17,800/17,815. If we continue higher look for 17,860 then the all-time highs in 17,892/17,908 area. It's the weekly close tonight and of course a close above the all-time high would start next week with a very positive outlook. A break higher today targets 17945/55 then 17,990/18,000. Failure to hold above 17,700 could trigger a little short-term profit-taking down to 17,650/645 but below here look for a buying opportunity at 17,600/590 with a stop below 17,540. Just be aware that an unexpected break lower targets 17,505/500 then 17,466/457.
  • E Mini Nasdaq REPORT
    19/12/14
    E-Mini Nasdaq above yesterday's high of 4272 targets 4287 then resistance at 4294/96. We should struggle here initially, but a break higher in this very strong Bull trend is always possible and should target 4315 then 4320/23. If we continue higher look for 4330 then a retest of March contract highs at 4342.25. Any profit-taking meets immediate support at 4258/4257 but below here it could be worth trying longs at 4247/4243 with a stop below 4234. However on a break lower we should target 4225/4224 then a very good buying opportunity at 4216/4212 with a stop below 4205.
  • Gasoil REPORT
    19/12/14
    Gasoil will need to beat immediate resistance at 551/55 for a chance of recovery to & target 558 then562 before a retest of the 2 day high at 569/570. A break above this week's high of 572/573 turns the outlook more positive for next week & targets a gap at 582/583. Above here we run in to strong resistance at 595/596. Try shorts with stops above 599. Try longs at 542/540 in the hope of an end to the steep bear market at this stage. Longs need a wide stop below 535. However a break & in particular a weekly close tonight below 540 is very negative and should target 525 then 518 and 507. We could eventually see 503/502 next week.
  • Gilts REPORT
    19/12/14
    Gilts have wiped out all of the week's gains, as we retest Monday's low at 118.33. A break below yesterday's low of 118.18 adds pressure of course with a gap to fill at 117.93. From here down to 117.81 is quite good support and could mark a low for the day. Try longs with a stop below 117.60. Be ready to go with a break lower using 117.80/90 as resistance for a move to 117.44 and below here there is another gap to fill at 117.37. It could be worth trying longs with a stop below 117.20. For any chance of a recovery. We will at least need to get back above 118.35 and could then target 118.65. We should struggle here and a high for the day is possible, but if we do manage to break higher look for 118.90/95. Exit any longs here and try shorts up to 119.20/25 with stops above 119.45.
  • Bund REPORT
    19/12/14
    Bund has tough resistance at 154.90/95 but above 155.00 keeps the market outlook positive for a move towards 155.44/45 highs. A break higher targets 155.63/68 then 155.86/89. If we continue higher look for 156.05/10 then 156.23/26 next week. Failure to beat 155.00/154.90 should trigger a move lower towards 154.80 then a retest of good support at 154.60/55. Try longs again with a stop below 154.35. However be ready to go with a break lower to target 154.10/00 to try longs with a stop below 153.90. Failure here meets good support at 153.70/65. Longs need stops below 153.45.
  • Dax REPORT
    19/12/14
    Dax outlook remains positive so be ready to go with a break above 9865/9870(March 9877/82) to target 9895/9900(March 9907/9912) then 9911/9914(March 9923/26). If we continue higher today we should test two month trendline resistance at 9950/9955. There is quite good chance of a high for the day here but be aware that a break higher targets 9990/10,000. Any profit-taking today meets immediate support at 9805/9800(March 9817/12) but below here look for a buying opportunity at 9765/55(March 9777/67) with a stop below 9730(March 9740). However on a break lower look for the next buying opportunity at 9710/9700(March 9722/12) with a stop below 9670(March 9680). An unexpected break lower targets 9640(March 9651) but below here risks a slide as far as 9578(March 9590).
  • Eurostoxx REPORT
    19/12/14
    EuroStoxx now needs to hold above the 200 day moving average at 3150 to maintain a positive outlook and beat yesterday's high at 3175 (March 3171). However it is only above 3183 (March 3179) that could see gains accelerate again today to target 3198/3204 (March 3194/3200). A high for the day is possible here but shorts need a stop above 3213(March 3209). Be ready to go with a break higher to target 3225/3230(March 3221/26). There is good support in the 3160/3150(March 3146/56) area but below here sees a test of the 100 day moving average support at 3124/3120. If this does not hold the downside look for a buying opportunity at 3099/3096(March 3091/96) with a stop below yesterday's low of 3085(March 3181). Just be aware that an unexpected break lower today is a negative signal and could target 3060/3055.
  • Brent Crude REPORT
    19/12/14
    Brent Crude immediate support at 5910 but below here a retest of important longer term Fibonacci support at 5850/40 is likely. Try longs with a stop below 5800. However, a break lower kills any chance of a recovery in this bear trend and targets 5740/30 then 5685/75 and 5610. We will need to beat 6040/50 to stage another recovery today & target 6135. Above here is more positive & strong resistance at 6185/90. A break above here opens the door our next target of 6300/6310 then yesterday's high at 6370 before a test of strong resistance at 6400. A good chance of a high for the day but shorts need stops above 6440. We then run in to very strong resistance at 6545/65.
  • WTI Crude REPORT
    19/12/14
    WTI Crude February same levels apply for today with immediate resistance at 5545/50 but above here 5630/40. We should struggle initially but there is still the chance of recovery so be ready to go with a break higher to target resistance at 5745/65 then 5790/5800. If trying shorts here use stops above 5830. Be ready to go with a break higher then to target this week's high at 5915/25. A good chance of a high for the day here again, but be ready to go with a break & be aware that a weekly close tonight above here is obviously positive & targets 5975/80 then strong resistance at 6035/60 for a selling opportunity with stops above 6100. Immediate support at this week's low of 5425/5395 to try longs with stops below 5360. Be ready to go with a break lower however as this keeps the market under pressure in the longer term bear trend to target 5305/5295.
  • EURUSD REPORT
    19/12/14
    EURUSD outlook negative yesterday & we continued lower as expected to the target of 1.2290/80 to bottom at 1.2264. Below here today keeps the market under pressure to retest last week's low at 1.2245. From here down to 200 month moving average support at 1.2235 is incredibly important. The pair are oversold in the short term so worth trying longs with stops below 1.2200. HOWEVER with the outlook negative a break below cannot be ruled out & could target 1.2135/30. Immediate resistance at 1.2320/30 to try shorts with stops above trend line resistance at 1.2355. Only above here is less negative today & targets 1.2380/2390 to try shorts with stops above 1.2425. An unexpected break higher however then targets 1.2465/75.
  • Gold REPORT
    19/12/14
    Gold has immediate support at 1190/1188 but below here keeps the market under pressure to target support at 1182/80. This could hold the downside again but longs need a stop below 1176. Be ready to go with a break lower to target 1172 then 1169/68 & perhaps as far as 1164/63. Holding above 1190 opens the door to a recovery to 1201/1203 today. It could still be worth trying shorts again with stops above 1206, even though this trade did not work yesterday. Be ready to go with a break higher again however to re-target strong resistance at 1212/1213. Look for a high for the day here and try shorts with a stop above 1216.
  • Mini Russell 2000 REPORT
    19/12/14
    Mini Russell above 1192 meets the March contract high at 1200. Above here we can test all-time highs at 1211/1213. It's a weekly close which adds significance, so a close above either of these levels keeps the outlook positive into next week. A break higher today targets 1218/1219 then 1225/26. Below 1186 may trigger some profit-taking as far as 1178/1176. This could hold the downside but on a break lower look for a very good buying opportunity at 1168/1166, with stops below 1160. Try longs again at 1153/1151 with stops below 1145.
  • S&P REPORT
    19/12/14
    Emini S&P made it as far as 2062 yesterday in a near 60 point rally, less than 10 points from the all-time high for the March contract at 2071.75. Above here we meet the all-time high at 2079. It's the weekly close tonight, which adds significance and of course a close above either of these levels keeps the outlook positive for next week. Break higher today targets 2084/85 then 2090/91. If we continue higher look for 2097/2099. We are overbought in the short-term but any profit-taking offers a buying opportunity in the Bull trend. First support is at 2040/2038, but longs need a stop below 2032. Next target and support seen at 2028/2025. This should hold the downside but longs need a stop below 2020. Try longs again at 2013/2010.
Reports for
18/12/2014
  • EURGBP REPORT
    18/12/14
    EURGBP again has a buying opportunity at 7910/7905 with a stop below 7890. If we can bounce from here look for an initial target of 7935/40. If however we continue higher look for a test of resistance at 7960/55. A high for the day possible but any shorts need stops above 7975. Be ready to go with a break higher today to target strong resistance at 8000/8010 & a selling opportunity. Try shorts with a stop above 8030. Failure to hold good support at 7910/7905 today however risks a slide to the next target & support at 7870/65. Try longs with stops below 7855.
  • USDCAD REPORT
    18/12/14
    USDCAD immediate support at 1.1610/05 but below here look for a buying opportunity at 1.1565/60. Our longs need need a stop below 1.1540. An unexpected break lower then targets 1.1530 and 1.1510 but below here look for a very good buying opportunity at 1.1500/1.1490. If we can hold onto 1.1610 in the Bull trend, look for a return to 1.1640/1.1645. Any further gains should retest this week's high at 1.1672. Be ready to go with a break above 1.1670/75 to target 1.1695/1.1705. We should struggle here today at least but if we continue higher in the strong bull trend look for 1.1759 today. Further gains this week target 1.1816/20.
  • Emini Dow Jones REPORT
    18/12/14
    Emini Dow Jones immediate resistance at 17,330/17,360 today of course. We should struggle here but the outlook is positive, so break higher would not be a surprise and we should target very strong resistance at 17,395/17,405. This is the big challenge today and may even be worth trying shorts, despite the positive outlook, with a stop above 17,440. Be ready to go with a break higher using 17,400 strong support to target 17,500/17,520. Exit longs here and try shorts up to strong resistance at 17,550/17,560, with stops above 17,600. Failure to beat resistance at 17,330/17,360 triggers a dip back to 17,275/265 then good support at 17,210/17,190. Try longs here with a stop below 17,150. A break below here however then targets very good support at 17,080/17,060.
  • E Mini Nasdaq REPORT
    18/12/14
    E-Mini Nasdaq March bottomed just 4 points below strong support at 4090/4085 to signal the end of the December correction as expected & beat 4140/4145 for another very positive signal to quickly target 4165 as predicted. A break above yesterday's high at 4173 targets strong resistance at 4184/4187 today. This is the biggest challenge for Bulls, but shorts need stops above 4195. A break higher is very positive and should then see 4185 work as good support for a move towards 4208/4212. It could be worth trying shorts here with a stop above 4220. Immediate support is at 4145/4142 and is worth trying longs with a stop below 4132. Below here. However risks a slide to 4120/4115. Any longs here need a stop below 4105 as this could trigger further losses down to good support at 4095/4095. Try longs at 4090/4085 with a stop below 4075.
  • Ftse REPORT
    18/12/14
    FTSE outlook remains positive & will now need to hold above the important short-term support at 6370/6365 to build on recent gains. Be ready to go with a break above 6395/6400 to target 6415/20 then resistance at 6435/6440. A high for the day is possible here, as we become overbought in the short-term, but if trying shorts use a stop above 6450. Be ready then to go with a break higher using 6440 as support to target 6464/6468 then 6480/6490. If we continue higher look for a very strong resistance at 6505/6515. Try shorts expecting a high for the day with a stop above 6530. Immediate support at 6370/6365, but longs need stops below 6350 as this risks a test of support at 6325/20. Longs here need a stop below 6300, as we could then test very strong support at 6275/6272. Try longs here expecting a low for the day with a stop below 6250.
  • Dax REPORT
    18/12/14
    Dax did hold above 9420/00 perfectly yesterday & beat the 200 DMA at 9533 reaching our Fibonacci target at 9655/9660. In fact we topped almost exactly here 9673. Outlook remains positive but we must beat 9660/9670 to target strong resistance at 9705/9715. This big challenge for Bulls, as we become overbought short-term. Shorts need a stop above 9735. Be ready to go with a break higher using 9715/9705 as strong support to target 9760/9765. A good chance of a high for the day but shorts need a stop above 9790. A break above 9800 is another positive signal & we should target 9835/9840 then 9865/9870. We could then even reach as far as 9895/9900 this week. Below 9600 may trigger a little profit-taking down to 9578 and possibly as far as good support at 9555/9545. Try longs here with a stop below 9520. However be ready to go with a break lower using 9545/55 as resistance to target 9510/05 and perhaps as far as excellent support at 9445/9440. Try longs with a stop below the 100 day moving average at 9400.
  • USDJPY REPORT
    18/12/14
    USDJPY did stage a recovery yesterday, after holding very strong support above 115.50 this week, exactly as predicted. The pair beat strong resistance at 117.30/35. & initially topped at very strong resistance at 117.90/95. However an unexpected break higher later in the session reached 119.00 over night. Outlook remains positive as we resume the bull trend & above 119.00 could target resistance at 119.45/50. A high for the day possible as we become overbought short term but the outlook remains positive so any shorts need stops above 1190.80. Be ready to go with a break higher using 119.50 as support for a move towards 119.90/95 then 120.11/18. Failure to beat immediate resistance at 118.75/85 however should trigger a move lower towards 118.00/117.90. A good chance of a low for the day here to try longs with stops below 117.70. A break below 118.00 however is more negative & targets 117.50/45.
  • AUDUSD REPORT
    18/12/14
    AUDUSD as stated yesterday is in a bear trend & despite oversold conditions outlook remains negative. Holding below 8120 keeps the market under pressure with a break below yesterday's low at 8104 to target the 2010 lows at 8086 & 8065. Yearly lows are obviously important & could hold the downside today as we become oversold. Try longs with stops below 8040. However be ready to go with a break lower in the negative trend to target 8005/7995 then important longer term Fibonacci support at 7945. Any recovery looks limited with immediate resistance at 8150 but shorts here need stops above 8165. Try shorts at 8180 with a high for the day possible, but with stops above 8200. Try shorts again at 8220/25, with stops above 8245.
  • GBPUSD REPORT
    18/12/14
    GBPUSD holding just above last week's low at 1.5539. Obviously this is important support but the outlook remains negative so a break lower cannot be ruled out & could target 1.5505/00 & perhaps as far as 1.5435/30. If we continue lower this week we meet important longer term Fibonacci support at 1.5360. Any recovery meets immediate resistance at 1.5600 which could hold a move higher but shorts need stops above 1.5615. A break higher should target 1.5635/40. Try shorts with stops above 1.5665. On a break higher use 1.5635/40 as support at for a move towards strong resistance at 1.5690 & a good selling opportunity with stops above 1.5710.
  • EURUSD REPORT
    18/12/14
    EURUSD however unexpectedly broke support at 1.2380/70 to hit 1.2320. Outlook remains negative & if we continue lower today look for 1.2290/80. A break below 1.2270 then keeps the market under pressure to retest last week's low at 1.2245. From here down to 200 month moving average support at 1.2235 is incredibly important. Longs need stops below 1.2200. HOWEVER with the outlook negative a break below cannot be ruled out & could target 1.2135/30. Immediate trend line resistance at 1.2355/65 is the key to a short term recovery today. Only above here is less negative & shorts need stops above 1.2380. Next target & resistance at 1.2410/20 to try shorts with stops above 1.2440. An unexpected break higher then targets 1.2465/75.
  • Mini Russell 2000 REPORT
    18/12/14
    Mini Russell now testing resistance at 1172/73. Be ready to go with a break above here to target 1177/78 then last week's high at 1182/84. A good chance of a high for the day here but shorts need stops above 1189. Be ready to go with a break higher again to target November highs at 1200. Failure to beat resistance at 1172/73 should trigger a move lower towards support at 1164/62. This should hold the downside initially at least but on a break lower look for a test of the next target & support at 1158/56. Try longs with stops below 1152. Try longs again at 1147/45, with stops below 1141.
  • S&P REPORT
    18/12/14
    Emini S&P key to direction today is obviously 2009/11. It looks like we ended the correction yesterday & will need a break above here today to continue the recovery & target 2016/2017 then 2025/2026. Any further gains meet strong resistance at 2029/2031 today. A high for the day expected but shorts need stops above 2035. Failure to beat 2009/11 should trigger a move lower towards 2000/1999 & perhaps as far as good support at 1994/1992. A low for the day possible so try longs with stops below 1986. However be ready to go with a break lower using 1992/1994 as resistance for a move towards 1981/80.
Reports for
17/12/2014
  • Emini Dow Jones REPORT
    17/12/14
    Emini Dow Jones must get back above the important 17,080/17,095 resistance area, if we are to begin a recovery. Above here is more positive and targets 17,120/17,130 then resistance at 17,190/17,200. We should struggle here and a high for the day is certainly possible but shorts need a stop above 17,250. Be ready to go with a break higher using 17,200 as good support then for a move towards 17,295/17,300 and perhaps as far 17,330/17,360. Failure to beat 17,080 risks a slide to good support at 16,950/945. We are oversold in a Bull trend and at this stage the move lower in December is only a correction in this trend. This support area may mark the low for the correction but longs need a stop below 16,920. Be ready to go with a break lower then to target 16,875 and perhaps even 16,830 for the next buying opportunity.
  • E Mini Nasdaq REPORT
    17/12/14
    E-Mini Nasdaq March must hold onto very strong support at 4090/4085 today to signal the end of the December correction. We could then build a recovery into the end of the month. Above 4105/4110 is more positive again and any shorts here will need a stop above 4120. Be ready to go with a break higher to target very strong resistance at 4140/4145. There is an extremely good chance of a high for the day here so it is worth trying shorts with a stop above 4155. However, a break and in particular a close above here is another very positive signal and we should quickly go on to target 4165, perhaps even make it as far as 4180/4185. Try longs at 4090/4085 with a stop below 4075. However be ready to go with a break lower using 4085/4090 as strong resistance for a test of 100 day moving average support at 4060. There is a good chance of a low for the day here but longs need a stop below 4040. Be ready to go with a break lower then to target the next support area at 4015/4010.
  • Ftse REPORT
    17/12/14
    FTSE outlook has now turned positive of course but we will need to hold above 6275 to build on yesterday's positive price action and target 6320/6325. Above here sees a retest of yesterday's high at 6349 then very strong resistance at 6363/6369. There is a good chance of a high for the day here but a break above here is very positive and this level will then act as good support for a move towards 6400. Failure to get back above 6275 adds a little pressure risking a test of very good support at 6020/6215. Try longs here with a stop below 6190. If however we continue lower we could target 6150/6140. Exit any shorts here and try longs from here down to 6120, with stops below 6100. Be ready to go with a break lower however to target 6083/82 then 6065/60.
  • Dax REPORT
    17/12/14
    Dax price action yesterday was extremely positive as we become very oversold. There is a very good chance that this will Mark the end of the correction. The outlook has turned positive and if we can hold above 9420/00 today we can start to build a recovery with a return to 9445/50 then 9515/20. Just above here we meet 200 day moving average at 9532 & we should struggle to make any further gains today. However if trying shorts, we need a stop above 9550. Be ready to go with a break higher to target yesterday's high at 9577. Obviously a break above here is an added positive signal this week and we should target 9598/9600, perhaps even make it as far as Fibonacci resistance at 9655/9660. Failure to hold above 9400 is less positive for today and risks a slide to 9365/60. Try longs here with a stop below 9330. A break lower targets 9300/9295 but below here look for a buying opportunity at 9240/9235 with a stop below yesterday's low at 9216. Just be aware that a break lower targets 9187/9182 & 9167/9160 then 9150/45 before November lows at 9125.
  • Mini Russell 2000 REPORT
    17/12/14
    Mini Russell March key to direction is the 1142/39 & holding below here is negative. The head & shoulders pattern still has huge negative potential. A break below the 2 day low at 1131/1128 could then target good support at 1120/19 today. This could hold the downside today. However on a break lower look for 1111/1109. Only above 1142 is more positive for today and targets 1146/48. If we continue higher look for strong resistance at 1153/54 which could hold a move higher but if we continue higher look for a selling opportunity at the Friday/Monday high of 1157/60. Exit any longs here and try shorts up to 1162 with a high for the day expected. Our shorts need a stop above 1167.
  • S&P REPORT
    17/12/14
    Emini March holding below 1971/1969 keeps the market under pressure to target 1961/1960 again today, then 1958/57. If we continue lower look for 1955/1954 then 1952/1951. A break below 1948 adds more pressure and targets good support at 1939/1938. It could be worth trying longs here with a stop below 1932. Only above 1974 is more positive for today & may allow a recovery to 1982/1984. If we continue higher look for a target of 1992/1994 and use this as a selling opportunity with a stop above 2000. If we continue higher once again however, look for strong resistance at 2008/2010 & a selling opportunity but shorts need stops above 2016.
Reports for
15/12/2014
  • Copper Futures REPORT
    15/12/14
    Copper must hold above 2.895/2.905 this week & beat first resistance at 2.925/2.935 today for a test of last week's high & strong resistance at 2.945/50. A break above here today however is obviously positive and should target 2.965. It may be wise to exit longs here and try shorts up to important resistance at 2.970/75. A high for the day is expected here but shorts need a stop above 2.985. Important support at 2.905/2.895 could hold the downside but below here is more negative for today & targets 2.880 then this week's low at 2.867/865. If this does not hold the downside today, look for a buying opportunity at 2.858/55 with a stop below 2.840.
  • AUDJPY REPORT
    15/12/14
    AUDJPY key to direction is immediate resistance at 9860/70 again today. It may be worth trying shorts with a stop above 9900 but be ready to go with a break higher using 9870/60 as strong support for a move to resistance at 9950. Watch for a high for the day here but if we manage to continue higher look for a very good selling opportunity at 9995/100.05. Immediate resistance at 9800 & failure to get back above here keeps the market under pressure. We are then likely to retest support at 9750/45. If we continue lower today, look for an excellent buying opportunity at 9730/9720 with stops below 9705.
  • Bund REPORT
    15/12/14
    Bund hit all targets to the 154.65/73 area to keep the outlook positive. Prices topped at 154.80 but on a break higher today we target 154.93/97 & perhaps as far as 155.08/11. Any further gains could reach 155.19/23. Below 154.74 may trigger short term profit taking to 154.56/51 but below here risks a slide to 154.33 then Friday’s low at 154.23. Longs need stops below the gap at 154.17.
  • Ftse REPORT
    15/12/14
    FTSE outlook remains negative after last week’s loss of over 500 points. A break below immediate support at 6200/6195 adds pressure to target 6150/45 with any further losses to test 200 month moving average support at 6125/20. A low for the day possible but longs need stops below 6100. Be ready to go with a break lower to target 6083/82 then 6065/60. Our first resistance level is at 6260/65 then 6290/93. Above here look for a selling opportunity at 6310/15 with a good chance of a high for the day but our shorts need a stop above 6330. On a break higher we should target 6345/50 and any shorts here will need a stop above 6360.
  • Dax REPORT
    15/12/14
    Dax got to within 15 ticks of our ultimate target on Friday of 200 day moving average support at 9530/9520. Outlook remains negative so if trying longs here we need a stop below a small gap at 9490. Be ready to go with a break lower to target strong Fibonacci support at 9450/45. Try longs with stops below the 100 day moving average support at 9405/00. Just be aware that a break below here is again worryingly negative. Downside pressure should increase & we could see accelerated downside movement to target 9345/35 then important longer term trend line & Fibonacci support at 9315/10. A low for the correction is very possible here so is worth trying longs with stops below 9275. If we do manage to hold important 200 day moving average support at 9530/9520, w e should recover back up to 9620/25. Above here is more positive and we could even reach as far as 9690/9700. There is a good chance of a high for the day here and it is worth trying shorts with a stop above 9745. However on a break higher be ready to jump into longs using 9700/9690 as good support for a move to 9785/90. A break above Friday’s high at 9801 would then turn the outlook much more positive for the rest of the week.
  • Gold REPORT
    15/12/14
    Gold same levels apply for today. However support at 1216/14 is less likely to hold on a third test today so longs need stops below 1212. Be ready to go with a break lower using 1216/18 as resistance for a move towards 1209/08 then support at 1202/1200. Exit shorts & try longs expecting a low for the day but with stops below 1197. Be ready to go with a break lower using 1201/02 as resistance then to target strong support at 1190/89 for profit taking on shorts. Immediate resistance at 1226/1228 but any shorts here need a stop above 1232. If we continue higher look for strong resistance at 1235/38 & a high for the day expected, but shorts need a stop above 1242. Only above 1240 turns the outlook positive for this week & targets 1250, perhaps even a retest of October highs at 1255.
Reports for
12/12/2014
  • EURGBP REPORT
    12/12/14
    EURGBP beat the 100 day moving average at 7910/15 to hit very strong resistance at 7956/59 & our a selling opportunity. This trade worked perfectly as we topped exactly here at 7954 & collapsed to 7915/10 initially then continued lower support at 7880/75. The pair bottomed exactly here. Same levels apply for today & if we can hold onto support at 7875. We should see a bounce back to resistance at 7900/7910. If trying shorts at this resistance use a stop above 7920 and be ready to go with a break higher to target 7930/35. Any further gains meet as selling opportunity again at 7950/55. Immediate support at 7875 of course but longs need a stop below 7860. A break below here today sees 7875/80 act as resistance for a move to the next downside target 7850/48. Further losses meet last week's low & trend line support at 7835/28. Try longs with stops below 7820. Be ready to go with a break lower however to target November lows at 7795.
  • USDCAD REPORT
    12/12/14
    USDCAD managed to beat 1.1500 but stopped nine pips short of our target 1.1558. Be ready to go with a break above here today in the Bull trend to target 1.1595/1.1605 then 1.1639 & perhaps as far as 1.1759 in to next week. Failure to get through 1.1558 however is likely to trigger a little selling down to 1.1520/1510 & perhaps as far as a buying opportunity at 1.1500/1495 with a stop below 1.1480. Further losses meet very strong support at 1.1465/60 and it is very unlikely we will fall. Any further at this stage, but longs will need a stop below 1.1440.
  • Nat Gas REPORT
    12/12/14
    Natural Gas now needs to hold above 3640/35 to target 3690/3700 then 3755/60. Above here meets yesterday's high & resistance at 3778/90. Exit longs & try shorts up to 3805, with stops above 3830. Just be aware that on a break higher we should target 3855/60. Back below 3640/35 risks a retest of this week's low at 3605/3585. A break lower in the harsh 2 week bear trend however cannot be ruled out despite severely oversold conditions & could target 3560 before good support at October lows at 3547/41. This is key to the downside action this week, but a break lower cannot be ruled out with bears clearly in control and should target 3490/3480. This is good support, so a bounce from here is certainly possible today at least.
  • Brent Crude REPORT
    12/12/14
    Brent Crude has so far hit 6305 and could continue lower to the 200 month moving average at 6250 today. With prices so severely oversold it may be worth exiting all shorts in case of a sharp bounce. It is always risky trying longs in such a strong bear trend, but if you want to try longs here, as it is such strong support and the market is so oversold, use a 100 tick stop as this is such a major level. However be ready to go with a break lower to target 6050 and then 5950. Immediate resistance at Wednesday's low of 6350/60 then 6430 but above here look for a selling opportunity at 6510/30 with stops above 6550. A break higher meets Monday low of 6590/95 then 6636.
  • WTI Crude REPORT
    12/12/14
    WTI Crude remains under pressure hitting the target of 6010/5995 & just 10 ticks above the next target of 5875 as I write. Below here today we look for a test of mid 2009 lows at 5835/30. Any further losses in this bear trend should target 5710/00, 5610/5595, 5470/60 then 5390. Resistance at 6010/20 then 6040/45 but above here we could reach as far as 6150/60. Any further gains meet selling opportunity at 6225/30 with a stop above 6260.
  • USDJPY REPORT
    12/12/14
    USDJPY holding above 117.90/118.00 was a huge relief for bulls. To resume the Bull trend now we must hold above 118.80/70 to target trendline resistance at 119.50/55 today. Shorts need a stop above 119.70 to target Wednesday's high at 119.90/95. If we continue higher in the Bull trend, look for 120.15/20 then 120.40. Any further gains could make it as far as 120.95/121.00. Strong support at 117.90/85 is key to direction again today. Longs need stops below yesterday's low at 117.40. A break lower is a very negative signal and targets 117.25/20 then 117.05/00. If we continue lower look for 116.90/85 but below here risks a slide as far as 116.40/30, which should hold the downside today at least. However longs need a stop below 116.00 for a move to strong support at 115.50/45. There is a very good chance of a low for the week here but longs will need a stop below 115.10.
  • AUDUSD REPORT
    12/12/14
    AUDUSD traded mostly within Tuesday's range so same levels apply for today. Above 8280/70 targets 8350/55 again today. Any shorts stopped above yesterday's high of 8375 for a move towards 8387/97 then 8420 & perhaps as far as 8440 today for a short term selling opportunity. Below 8270 meets support at this week's low of 8220/10. Try longs with stops below 8195. However we are in a bear trend & despite oversold conditions be ready to go with a break lower to target 8153. Just be aware for next week that a break lower targets 2010 lows at 8086 & 8065.
  • GBPUSD REPORT
    12/12/14
    GBPUSD again held above support at 1.5635/30 & beat 1.5690/1.5700 for a positive signal & we hit targets of 1.5717 then 1.5735/40 in a repeat of Wednesday's action but failed to reach 1.5765. Same levels apply for today with a break higher to target 1.5785/90 for profit taking on longs & an excellent selling opportunity with a high for the day expected. Try shorts with a stop above 1.5830. However an unexpected break higher sees 1.5785/90 act as strong support for a move towards 1.5855/60. If this does not hold a move higher look for strong resistance at 1.5935/40. Below 1.5725/20 adds pressure again but there is quite good support at 1.5695/85. If however this does not hold the downside look for a test of the 3 day low at 1.5650/45. Failure here today targets 1.5610/00 then 1.5585/80.
  • EURUSD REPORT
    12/12/14
    EURUSD outlook is more mixed with yesterday's unexpected weakness. Same levels apply for today with immediate resistance at 1.2425/20 the key to direction. Above here is more positive & targets 1.2465. If we continue higher a test of December highs at 1.2494/06 is likely. A break higher today meets quite strong resistance at 1.2523/31. Watch for a high for the day here but a shorts will need a stop above 1.2550. If we continue higher look for the next target 1.2570/75 before a retest of November highs at 1.2595/1.2600. Just bear in mind that at this stage this is only a correction higher in a bear trend. Failure to beat 1.2425/20 sees a retest of support at 1.2380/70. Longs need stops below 1.2360 today as we could then target 1.2330/20. If we continue lower in the longer term bear trend look for 1.2290/80 then December lows at 1.2250/45.