Cash prices 7th resistance 5700 61.8% Fib retracement 6th resistance 5630 Previous resistance line 5th resistance 5624 Previous high 4th resistance 5580 200-day moving average 3rd resistance 5530 Previous support line 2nd resistance 5511 55-90min moving average 1st resistance 5477 Yesterday’s high 1st support 5436 Yesterday’s low 2nd support 5435 Previous low 3rd support 5427…
As Cyprus boards the bailout bandwagon and another Eurozone summit beckons, the Euro continues its struggles against adversity and technically looks to be firmly rooted on the losing side versus a few other major currencies. EUR/USD has been in a downtrend since breaking the neckline of the triangle pattern at 1.3000. June began well for…
George Soros’ plan We read with great interest a paper just published by George Soros, that will be presented at a conference shortly in Europe this week on the eurozone crisis. What was impressive about the paper is that Mr Soros has put forward a plan for Europe to move forward and avert a deepening…
Light Crude Oil August 2-hour chart Pattern: the completion of a triangle [a,b,c,d,e] for wave (4) is followed by a decline which is wave (5). Note prices have found resistance each time they rose above the 55-120min moving average. Next move: wave (5) down but if Crude Oil rallies the previous support at 81 has…
For more trading insights and exclusive access to FatProphets Virtual Trading Room for a full month click here A good friend of Angus’ who holds a senior position with a major US investment bank in private equity forwarded us an email that had been sent by someone else in financial services. It was the article we…
More pain for AIM oil and gas investors. Rockhopper -6% 245p (52 week range 141p-393p) Investors continue to wait with baited breath for an update on its farm-in agreement which is due some time in Q3 this year. In the meantime, the shares have had a rough time over the last few weeks. Gulfsands Petroleum…
It really is a crazy world! For stock market investors, global equity indices are ebbing and flowing as expectations change in relation to new rounds of stimulus by the world’s central banks. Growth seems to have been forgotten and now we need the heroine induced high of central bank intervention. But we all know that…
After a botched IPO, Facebook shares fell as low as $25.50 earlier in June at which point we recommended a swing Buy trade. It has sprung back to life with a vigour to close at $33 on Friday – within sight of the company’s initial floatation price if $38 in which 421 million shares were…
Risk was again off the table towards the end of the week with key European and US indices declining on ‘renewed’ fears over global economic growth o Thursday, and as ‘disappointment’ over the lack of decisive action by the Fed began to sink in. We remarked that recent market stability did not mean we were…
Kazakhstan focused oil producer Max Petroleum is currently down 53% to 4.1p after falling as low as 2.5p earlier today on news that it may have to significantly reduce or even abandon its exploration programme if it does not get additional funding. Back in March it was over 14p and the company is now currently…
