Crude rises White Superior Copper correct profit taking gold, the risk-weighted assets and have a range of silver to be jumping entries Ebbing New Haven to raw materials in U.S. dollars on the rise in European trading and profit-taking gently lifted risky assets after aggressive sell-out yesterday, the shadow of the headwinds of a disappointing German IFO reading. Prices fell in the last 24 hours as global fears of further economic growth, according to the directions of deepening weakness in China, the euro zone and the United States against the backdrop of the muted hopes for stimulus Fed. Ben Bernanke, and the company decided to expand the QE at a meeting of the FOMC rate decision to suspend committee earlier this week. Moody's decision to downgrade the credit ratings of 15 of the world's largest banks reinforces the dour mood.
For the future, the S & P 500 stock index futures are up, which means more of the same is ahead. Crude oil and copper prices are ready to follow the stock higher, while gold and silver is de facto support a restoration of confidence Haven reduced demand for the dollar. Dallas Fed Manufacturing Survey headlines from the calendar on the hours of the U.S., with expectations calling for a flat reading in June, after the indicator has the biggest drop since September 2011 released last month. New report from May for the House and the Chicago Fed National Activity Index must also cross the wires.
In the meantime, a two-day meeting of finance ministers in Brussels to follow. Coming on the heels of the G20 summit earlier this week, where officials are included in the region face severe pressure from world leaders to step up efforts to the debt crisis, which may be seen sit-down, the occurrence of some preliminary policy ideas. Specific initiatives are likely to wait until the summit of EU leaders next week, but traders continue to pay particular attention to comments to be paid from the sidelines during the first clues.
WTI Crude (NY Close): $ 78.20 / / -3.25 / / -3.99%
Prices broke below the 23.6% Fibonacci b expansionat 81.07, revealing the level of 38.2% to 77.34. Sale is further directed by this edge of the expansion of 50% to 74.40. The 23.6% Fibonacci resistance has been recast as a short term ...
Daily Chart - Created Using FXCM Marketscope 2.0
Spot Gold (NY Close): $1566.28 // -41.20 // -2.56%
Prices 1600/oz took the figure and 38.2% Fibonacci retracement from 1582.10 to challenge the interim support at 1554.73. A break below this limit makes from 1522.50 to 32.45 range. The limit of 1582.10 has been revised to be as short-term resistance....
Daily Chart - Created Using FXCM Marketscope 2.0
Spot Silver (NY Close): $26.89 // -1.27 // -4.51%
Prices are testing the support at 26.75, on May 16 under, with a break in the low exposure of the Triple higher in 26.05. Short term lines of resistance up to 27.84, the bottom of the formation prior to rotating table flag, which previously acted as a support.
Daily Chart - Created Using FXCM Marketscope 2.0
COMEX E-Mini Copper (NY Close): $3.298 // -0.090 // -2.66%
The prices will test support at 3296, 23.6% Fibonacci expansion. A downside breakout shows in the tri-support 3.250. Short term resistance is at 3.384, the Fibonacci retracement of 23.6%.
Daily Chart - Created Using FXCM Marketscope 2.0
For the future, the S & P 500 stock index futures are up, which means more of the same is ahead. Crude oil and copper prices are ready to follow the stock higher, while gold and silver is de facto support a restoration of confidence Haven reduced demand for the dollar. Dallas Fed Manufacturing Survey headlines from the calendar on the hours of the U.S., with expectations calling for a flat reading in June, after the indicator has the biggest drop since September 2011 released last month. New report from May for the House and the Chicago Fed National Activity Index must also cross the wires.
In the meantime, a two-day meeting of finance ministers in Brussels to follow. Coming on the heels of the G20 summit earlier this week, where officials are included in the region face severe pressure from world leaders to step up efforts to the debt crisis, which may be seen sit-down, the occurrence of some preliminary policy ideas. Specific initiatives are likely to wait until the summit of EU leaders next week, but traders continue to pay particular attention to comments to be paid from the sidelines during the first clues.
WTI Crude (NY Close): $ 78.20 / / -3.25 / / -3.99%
Prices broke below the 23.6% Fibonacci b expansionat 81.07, revealing the level of 38.2% to 77.34. Sale is further directed by this edge of the expansion of 50% to 74.40. The 23.6% Fibonacci resistance has been recast as a short term ...
Daily Chart - Created Using FXCM Marketscope 2.0
Spot Gold (NY Close): $1566.28 // -41.20 // -2.56%
Prices 1600/oz took the figure and 38.2% Fibonacci retracement from 1582.10 to challenge the interim support at 1554.73. A break below this limit makes from 1522.50 to 32.45 range. The limit of 1582.10 has been revised to be as short-term resistance....
Daily Chart - Created Using FXCM Marketscope 2.0
Spot Silver (NY Close): $26.89 // -1.27 // -4.51%
Prices are testing the support at 26.75, on May 16 under, with a break in the low exposure of the Triple higher in 26.05. Short term lines of resistance up to 27.84, the bottom of the formation prior to rotating table flag, which previously acted as a support.
Daily Chart - Created Using FXCM Marketscope 2.0
COMEX E-Mini Copper (NY Close): $3.298 // -0.090 // -2.66%
The prices will test support at 3296, 23.6% Fibonacci expansion. A downside breakout shows in the tri-support 3.250. Short term resistance is at 3.384, the Fibonacci retracement of 23.6%.
Daily Chart - Created Using FXCM Marketscope 2.0
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