SPOT GOLD closed lower on Wednesday extending yesterday’s breakout below the 20day moving average. The lowrange close sets the stage for a steady opening when Thursday’s night session begins trading. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible nearterm. If it extends this week’s decline, the reaction low crossing is the next downside target. Closes above the 10day moving average crossing would temper the nearterm bearish outlook.
Thursday 21st August 2014
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Friday 22nd August 2014
THE EURO closed higher on Thursday and the highrange close sets the stage for a steady opening on Friday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible nearterm. If it extends the rally off July’s low, the 38% retracementlevel of this year’s decline crossing is the next upside target. Closes below the reaction low crossing would confirm an end to the short covering rally off July’s low.
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Monday 25th August 2014
THE YEN closed higher on Friday extending the rally off June’s low. Friday’s highrange close sets the stage for a steady to higher opening when Monday’s night session begins trading. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible nearterm. If it renews the rally off June’s low, April’s high crossing is the next upside target. Closes below the 20day moving average crossing would temper the bullish outlook.
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Tuesday 26th August 2014
THE SWISS FRANC closed higher on Monday. The lowrange close sets the stage for a steady opening when Tuesday’s night session begins trading. Stochastics and the RSI are turning neutral to bullish signalling that a shortterm bottom might be in or is near. Closes above the 20day moving average crossing would confirm that a shortterm bottom has been posted. If it extends the decline off July’s high, June’s low crossing is the next downside target.
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Wednesday 27th August 2014
STERLING closed lower on Tuesday as it extends the decline off July’s high. The lowrange close sets the stage for a steady to lower opening when Wednesday’s night session begins trading. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends the decline off July’s high, the reaction low crossing is the next downside target. Closes above the 20day moving average crossing would confirm that a low has been posted.
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Thursday 28th August 2014
THE EURO closed higher on Wednesday. The highrange close sets the stage for a steady to higher opening when Thursday’s night session begins trading. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends this summer’s decline, the 75% retracement level of the 20132014rally crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a low has been posted.
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Friday 29th August 2014
NATURAL GAS closed slightly higher on Thursday. The midrange close sets the stage for a steady opening when Friday’s night session begins trading. Stochastics and the RSI are neutral to bullish signalling that sideway to higher prices are possible nearterm. Closes above the 20day moving average crossing are needed to confirm that a shortterm low has been posted. If it renewing the decline off June’s high, the 62% retracement level of the 20122014rally crossing is the next downside target.
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Monday 1st September 2014
SPOT GOLD closed lower on Friday. The midrange close sets the stage for a steady opening when Tuesday’s night session begins trading. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible nearterm. Closes above the 20day moving average crossing are needed to confirm that a shortterm low has been posted. If it extends this month’s decline, the reaction low crossing is the next downside target.
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Tuesday 2nd September 2014
SPOT GOLD closed lower on Monday. The midrange close sets the stage for a steady opening when Tuesday’s night session begins trading. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible nearterm. Closes above the 20day moving average crossing are needed to confirm that a shortterm low has been posted. If it extends this month’s decline, the reaction low crossing is the next downside target.
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Wednesday 3rd September 2014
US OIL closed lower on Tuesday and below the 10day moving average crossing signalling that a shortterm top has been posted. The lowrange close sets the stage for a steady to lower opening when Wednesday’s night session begins. Stochastics and the RSI are turning neutral to bearish signalling that sideways to lower prices are possible nearterm. If it renews the decline off June’s high, the 38% retracement level of the 20092011rally crossing is the next downside target.
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Thursday 4th September 2014
THE EURO closed higher due to short covering on Wednesday. The midrange close sets the stage for a steady opening when Thursday’s night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends this summer’s decline, the 87% retracement level of the 20132014rally crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a low has been posted.
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Friday 5th September 2014
THE YEN closed higher on Thursday. Today’s midrange close sets the stage for a steady opening when Friday’s night session begins trading. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends the rally off June’s low, weekly resistance crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a shortterm high has been posted.
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HYMARKETS Stocks Report: Bank of America Corp
• Bank of America corrects up from support level 16.00
• Next buy target – 16.50
Bank of America recently reversed down after the price nearly reached the buy target 16.50 that was set in our previous forecast for this company. The subsequent minor downward correction 2 stopped at the support zone lying between the support level 16.00 (former strong resistance level which reversed the price in June and July) and 38.2% Fibonacci Correction of the previous minor upward impulse 1 (which broke the daily Triangle from March). Bank of America is expected to continue to rise in the active minor impulse 3 toward the next buy target at 16.50.
Market Commentary | HY Markets
Hi,
Thank you for he useful info.
Cheers
Friday 5th September 2014
NATURAL GAS closed lower on Thursday as it extends this week’s decline. The midrange close sets the stage for a steady opening when Friday’s session begins trading. Stochastics and the RSI are neutral to bearish signalling that sideways to lower prices are possible nearterm. If it extends this week’s decline, July’s low crossing is the next downside target. If it renews the rally off July’s low, the 38% retracement level of the JuneJuly decline crossing is the next upside target.
See more analysis at Market Commentary | HY Markets
Tuesday 9th September 2014
THE EURO closed lower due to profit taking on Monday as it consolidated some of this month’s rally. The lowrange close sets the stage for a steady to lower opening when Tuesday’s night session begins trading. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends the aforementioned rally, February’s high crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted.
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Wednesday 10th September 2014
THE SWISS FRANC posted an inside day with a lower close on Tuesday as it consolidated some of the short covering rally off last Friday’s low. The midrange close sets the stage for a steady to lower opening when Wednesday’s night session begins trading. Stochastics and the RSI are turning bearish hinting that a high might be in or is near. Closes below the 20day moving average crossing would confirm that a shortterm high has been posted.
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Thursday 11th September 2014
THE EURO closed lower on Wednesday. The lowrange close sets the stage for a steady to lower opening when Thursday’s night session begins trading. Stochastics and the RSI are turning neutral to bearish signalling that sideways to lower prices are possible nearterm. If it resumes this summer’s decline, the 62% retracement level of the 20132014rally crossing is the next downside target. Closes above the 20day moving average crossing are needed to confirm that a low has been posted.
See more analysis at Market Commentary | HY Markets
Friday 12th September 2014
US OIL closed higher due to short covering on Thursday as it consolidates some of this week’s decline. The highrange close sets the stage for a steady to higher opening when Friday’s night session begins. Stochastics and the RSI are bearish hinting that sideways to lower prices are possible nearterm. Multiple closes below the 20day moving average crossing are needed to confirm that a shortterm top has been posted.
See more analysis at Market Commentary | HY Markets
Monday 15th September 2014
THE SWISS FRANC closed lower on Friday. The midrange close sets the stage for a steady to lower opening when Monday’s night session begins trading. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible nearterm. Closes below the 20day moving average crossing are needed to confirm that a shortterm high has been posted. If it renews the rally off August’s low, the 62% retracement level of the JulyAugust decline crossing is the next upside target.
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