Last week's oil stats were the catalyst for the continued sell off in the WTI June contract which saw the oil price fall to $90 per barrel, before bouncing back with strong volumes on Thursday and Friday to close above the $95 per barrel price point.

However, yesterday's price action on the daily chart has now…

Despite a deep pull-back on oil the larger trend remains down as recovery appears to be only in three waves, which ideally represents a black wave 4 that is part of a larger downtrend. As such, traders should be aware of a bearish reversal in this week, possibly from around 92.50 where we can see a very typical 38.2% retracement level of wave 3. Break of 90.75 swing would be the first evidence for weakness in black wave 5.

Oil 1h…

USD index recovered very sharply last week but don't let the strong rally trick you. The fact is that current sharp leg up could easily be wave C) of a flat correction in wave (B) which is unfolding already since September 2012. In fact, price is approaching to some very interesting resistance zone around 81.70-82.00 (61.8% Fibo) where bulls could slow down. As such, larger trend for this market remains down, but only impulsive weakness from that resistance and back to 80.30 figure can…

SUMMARY: NEUTRAL

KEY AREAS:

1. 1.35
2. 1.33
3. 1.31
4. 1.29
5. 1.27
6. 1.23

TREND: NEUTRAL BECAUSE THERE IS A MARKET MISALIGNMENT

+ ETF METER BULLISH

VOLATILITY: EXTREME LOWER LEVEL, ENTRY BIAS

INFLATION: REAL<SPOT / Lower Highs => depreciation…

SUMMARY:

KEY AREAS:

1. 1.35
2. 1.33
3. 1.31
4. 1.29
5. 1.27
6. 1.23

TREND: NEUTRAL BECAUSE THERE IS A MARKET MISALIGNMENT

+ ETF METER BULLISH

VOLATILITY: EXTREME LOWER LEVEL, ENTRY BIAS

INFLATION: REAL<SPOT / Higher Lows…

SUMMARY: NEUTRAL

KEY AREAS:

• 1.35
• 1.33
• 1.31
• 1.29
• 1.27
• 1.23

TREND: NEUTRAL BECAUSE THERE IS A MARKET MISALIGNMENT

                  + ETF METER BULLISH

VOLATILITY: EXTREME LOWER LEVEL, ENTRY…

DEDICATED TO EURO TRADING AND CORRELATED ASSETS

GETTING…

EURUSD

Attempting to bottom and make some headway to the upside, the EURUSD failed to clear the 1.2800 role reversal level which was the Oct. swing lows. For now, the pair is stuck between 1.2800 weekly highs and 1.2659 lows which was the pin bar rejection on Tuesday.  So bears can look to sell any weak rallies up to 1.2800 while bulls can…

Israel takes out Hamas Chief of Staff



oh my, I was wondering where the super fast price action spike in brent came from.  Good thing I was long, but man, it smacked my target so fast, I didn't have time to expand it :-ooo



Although I will confess…

During last week, oil prices shifted with an unclear trend as the price of WTI oil slipped while Brent oil edged up. Due to the different paths these oil prices followed, the gap between the Brent oil and WTI widen again: The difference between Brent and WTI ranged between $19 and $21. During last week, WTI oil declined by 0.45%; Brent oil rose by 0.86%. The…

During last week, oil prices changed direction from their upward trend during August and the beginning of September and tumbled down throughout most of the week. The difference between Brent and WTI slightly increased but remained at its $17-$19 range. During last week, WTI oil declined by 6.5%; Brent oil, by 4.5%. The…

Throughout last week, crude oil prices didn't do much as both WTI and Brent oil slightly declined.  The difference between Brent and WTI also declined. In regards to the recent weather conditions, Hurricane Leslie was downgraded to a tropical storm and is expected to slip by Bermuda. This means that for now there aren't any weather conditions that could adversely affect the oil market. During last week, WTI oil slipped by 0.05%; Brent oil, by 1.1%. The…

During last week, the prices of precious metals rallied mainly on the last day of the week following Ben Bernanke's speech that rekindled the expectations of another QE program in the near future. I still think it's too early to jump to the conclusion that the FOMC will launch QE3 in the near future. During last week, the Euro also traded up against the USD. Further, other commodities prices such as crude oil also increased. Will gold silver and Euro continue to trade up during this short…

Oil prices continued their upward trend during last week; the gap between Brent and WTI also expanded during most of the week. During last week, WTI oil rose by 3.4%; Brent oil, by 1.9%. The concerns over the rising tensions between Iran and Israel might be contributing to the rally of oil rates. The recent news of the contraction in the EU GDP by 0.2% during Q2 2012 may have curbed…

During last week, some commodities prices –crude oil - and forex rates –Euro/USD – resumed their rally. On the other hand, gold and silver prices remained nearly unchanged, while natural gas and Aussie dollar declined. The news of the contraction of the EU GDP for Q2 2012 by 0.2% didn't hold back the Euro/USD from rising during last week. The U.S financial reports that came out last…

Oil prices started off the week with a sharp tumble but throughout the rest of the week both Brent and WTI recovered. The news of the decline in new home sales and pending home sales didn't seem to affect the oil market. Even the modest growth in…

During the week the Euro continued to tumble down while major commodities rates such as oil and natural gas resumed their rally. Will this trend continue this upcoming week? ECB President says there is no need to worry about the depreciation of the Euro. For now this sentiment doesn't seem to coincide with many Euro traders. There are several important…