What with Hindenburg omens, extended valuations, thin summer markets and the, sadlay, always wrong retail returning to the market, the signs are certainly there for a sharp shakeout…
Silver made it to the upper target of 20.30 & topped at 20.35. Immediate support is 20.05 but below here we could test 19.90. Watch for a break below 19.75 as we could then test support at 19.62. 20.30/35 resistance again today but a break higher cannot be ruled out as we trend sideways &…
European headline shares opened positively today tracking an optimistic finish to trading in Asia on Friday. The optimism was fuelled by data from China which showed that despite producer prices dropping in July, the prices still fell at a slower rate compared to the previous month. Although bears would be quick to point out that…
By Ben Turney It’s been a while since I wrote a piece using the MIDAS Method, but there is a developing opportunity in the natural gas market which is starting to look quite enticing. Below is the three year MIDAS chart for natural gas:- As you will note, MIDAS primary support is 16 months old,…
The problem with the markets, is that it is usually at precisely the point when most commentators and traders are in sync, that they are most likely to have got it wrong. For instance, the joy which accompanied the Bank of England receiving its independence in 1997 was totally inappropriate given the way that over…
By Tradeideas.co.uk WTI Crude failed just below 105.95 & broke 105.00/90 to bottom at 104.10, just above the next support at 103.95/75 where we expected a low for the day. The daily chart is still negative with the bearish double top in place but short term we are now oversold after 4 days of losses & a…
European markets opened firmly today owing to better-then-expected import and export figures from China. Both sets of data are encouraging as the improving exports are a sign that demand from the global economy is picking up. In addition, an increase in imports is also an indication that the underlying strength of the Chinese economy is…
The Bank of Japan (BoJ) will be cheered by recent economic data and is, therefore, likely to keep monetary policy on hold at its August meeting. “With the recent economic data probably having been as strong as it might have hoped, and financial markets having been broadly stable, we expect the Policy Board to do…
What a mess Sirius (SXX) – without its Minerals, so far has proved to be! And how this situation has nosedived in such a short space of time… There have perhaps been two main phases in the recent past when Sirius was a true head scratcher. The first was going into the summer when the…
A bearish take on U.S. stocks is about as fashionable as a beehive hairdo at the moment, which makes it a decent time to think like a contrarian. Sell-side strategists with a sense of reality are few and far-betweenbut as ConvergEx’s Nick Colas warns, the most important reason for caution currently is, obviously, valuation and complacency. U.S.…
