Market Analysis reports on the S+P 500, Dow Jones, Gold and Crude Oil spread betting markets. Market Analysis examines technical indicators such as levels of Support and Resistance, Stochastic levels and the RSI.
The Dow Jones futures market closed higher on Monday and the high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near-term. If the Dow extends the rally off October's low, the 87% retracement level of the May-October decline crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a short-term top has been posted.
The S&P 500 futures market closed higher on Monday and the high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near-term. If it extends the rally off December's low, October's high crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a short-term top has been posted.
The Nasdaq futures market closed lower due to profit taking on Monday. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near-term. If it extends the rally off December's low, November's high crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a short-term top has been posted.
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Metals Markets Analysis
10 January 2012
Gold Market Analysis
Gold closed lower due to profit taking on Monday as it consolidated some of the rally off December's low. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near-term. Closes above the reaction high crossing are needed to confirm that a low has been posted. If it renews the decline off November's high, July's low crossing is the next downside target.
Silver closed higher on Monday and the mid-range close set the stage for a steady opening on Tuesday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near-term. Closes above the 20day moving average crossing are needed to confirm that a short-term low has been posted. If it renews the decline off October's high, the 75% retracement level of the 2010-2011 rally crossing is the next downside target.
Metals spread betting markets may also be available through other companies. Notes.
Energies Markets Analysis
10 January 2012
Crude Oil Market Analysis
Crude oil closed lower on Monday and the high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are remaining neutral to bullish signalling that sideways to higher prices are possible near-term. If it extends the rally off December's low, the 75% retracement level of 2011 decline crossing is the next upside target. Closes below the 20day moving average crossing would temper the near-term friendly outlook.
Natural gas closed lower overnight as it consolidates some of Thursday's decline. Stochastics and the RSI are turning bullish hinting that a low might be in or is near. Closes above the 20day moving average crossing are needed to confirm that a short-term low has been posted. If February extends this year's decline, monthly support crossing is the next downside target.
Energies spread betting markets may also be available through other companies. Notes.
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'Daily Market Analysis for the Nasdaq, Natural Gas and Silver Bullion Markets', Article by PipTrade, last update: 10-Jan-12
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