Discussion points
Crude oil, copper higher as Greek target Vote Stokes risk appetite or pensions as Greek eurozone exit threat disappears on the growth of the election of crude oil and copper prices are accelerating in a general improvement in risk appetite after a general election in Greece the weekend produced enough votes for the main pro-bailout Pasok and new democracy parties form a coalition Government. The result downgraded fears of imminent Greek exit from the euro area, stimulate appetite and risk weighing on refuge go - to currencies. Investors fear that a disorderly ejection from the country of the currency bloc may if Syriza – a party pushing back on the terms of bailout from the EU and the IMF – emerge victorious.Gold is low that the application of dents of result for the metal as a safe haven store. Money is little changed.
S & P 500 futures index point, suggesting mood on the risk will likely see at least in the immediate future. If the week Spanish bank bailout last be repeated however, which may be mere hours. The election effectively returns on the markets for the status quo in place six weeks before the end of the first attempt to installation of a new Government without result. Now as at the time, the evolution of the euro-zone debt crisis seems likely to act as a slow simmer, not a sudden rupture triggered by an event. The negative consequences of a collapse of the eurozone for global economic growth have not become less important, the recent recovery of casting in risky assets as corrective in the context of a larger downward yet dynamic in game.
An empty folder of European economic data suggests a sale auction of French binding as the solitary piece of risk of the event scheduled on the calendar. Paris sell 8.70 billion € in good 12 months to mature. Traders will look to submission to cover reading and performance mean to evaluate the euro area sovereign risk fears. While the tenor short debt on offer would generally be a poor response from price action, the proximity of the Greek election could amplify the impact of the results, traders can be regarded as a referendum on the ability of the vote in a significant relief. Comment sideline of the g-20 meeting if in the Mexico is also sought guidance.
Crude oil WTI (near NY): $84.03 / / + 0.12 / / + 0.14%
The prices are more border after putting in a model of candlestick line upward Piercing above 81.07, 23.6% Fibonacci expansion support. The bulls are now designed to challenge on June 7 in figure 87.00. 14.6% Fib to 83.30 has been redesigned as a short-term support.
Daily chart - created with FXCM Marketscope 2.0
Spot Gold (near NY): $1627.10 / / + 3.38 / / + 0.21%
Prices are stalling after having taken a set of trend fall line of early March. Resistance in the short term remains 1637.35, the tracing of 76.4%Fibonacci, with a break that exposing may 1 to 1671.49. 61.8% Fib to 1616.23 has been redesigned as a short-term support.
Daily chart - created with FXCM Marketscope 2.0
Cash (near NY): $28.69 / / + 0.05 / / + 0.17%
Prices continue to go back to graphic training of flag, a bearish continuation facility. Confirmation is required on a daily close below the model - now unit - which would expose 27.06 as the next objective of disadvantage. The first major resistance layer aligned to 29.71.
Daily chart - created with FXCM Marketscope 2.0
COMEX E-Mini Copper (near NY): $3.384 / / + 0.030 / / + 0.89%
Prices have resistance 3.384, the tracing of Fibonacci 23.6%, with the bulls now to challenge the 38.2% Fib to 3.474. The 23.6%retracement has been redesigned as a short-term support.
Daily chart - created with FXCM Marketscope 2.0
Crude oil, copper higher as Greek target Vote Stokes risk appetite or pensions as Greek eurozone exit threat disappears on the growth of the election of crude oil and copper prices are accelerating in a general improvement in risk appetite after a general election in Greece the weekend produced enough votes for the main pro-bailout Pasok and new democracy parties form a coalition Government. The result downgraded fears of imminent Greek exit from the euro area, stimulate appetite and risk weighing on refuge go - to currencies. Investors fear that a disorderly ejection from the country of the currency bloc may if Syriza – a party pushing back on the terms of bailout from the EU and the IMF – emerge victorious.Gold is low that the application of dents of result for the metal as a safe haven store. Money is little changed.
S & P 500 futures index point, suggesting mood on the risk will likely see at least in the immediate future. If the week Spanish bank bailout last be repeated however, which may be mere hours. The election effectively returns on the markets for the status quo in place six weeks before the end of the first attempt to installation of a new Government without result. Now as at the time, the evolution of the euro-zone debt crisis seems likely to act as a slow simmer, not a sudden rupture triggered by an event. The negative consequences of a collapse of the eurozone for global economic growth have not become less important, the recent recovery of casting in risky assets as corrective in the context of a larger downward yet dynamic in game.
An empty folder of European economic data suggests a sale auction of French binding as the solitary piece of risk of the event scheduled on the calendar. Paris sell 8.70 billion € in good 12 months to mature. Traders will look to submission to cover reading and performance mean to evaluate the euro area sovereign risk fears. While the tenor short debt on offer would generally be a poor response from price action, the proximity of the Greek election could amplify the impact of the results, traders can be regarded as a referendum on the ability of the vote in a significant relief. Comment sideline of the g-20 meeting if in the Mexico is also sought guidance.
Crude oil WTI (near NY): $84.03 / / + 0.12 / / + 0.14%
The prices are more border after putting in a model of candlestick line upward Piercing above 81.07, 23.6% Fibonacci expansion support. The bulls are now designed to challenge on June 7 in figure 87.00. 14.6% Fib to 83.30 has been redesigned as a short-term support.
Daily chart - created with FXCM Marketscope 2.0Spot Gold (near NY): $1627.10 / / + 3.38 / / + 0.21%
Prices are stalling after having taken a set of trend fall line of early March. Resistance in the short term remains 1637.35, the tracing of 76.4%Fibonacci, with a break that exposing may 1 to 1671.49. 61.8% Fib to 1616.23 has been redesigned as a short-term support.
Daily chart - created with FXCM Marketscope 2.0Cash (near NY): $28.69 / / + 0.05 / / + 0.17%
Prices continue to go back to graphic training of flag, a bearish continuation facility. Confirmation is required on a daily close below the model - now unit - which would expose 27.06 as the next objective of disadvantage. The first major resistance layer aligned to 29.71.
Daily chart - created with FXCM Marketscope 2.0COMEX E-Mini Copper (near NY): $3.384 / / + 0.030 / / + 0.89%
Prices have resistance 3.384, the tracing of Fibonacci 23.6%, with the bulls now to challenge the 38.2% Fib to 3.474. The 23.6%retracement has been redesigned as a short-term support.
Daily chart - created with FXCM Marketscope 2.0
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