Daily Market Analysis - free technical analysis of the financial markets. Market Analysis reporting on the main American Stock Market Indices and Commodities markets that discusses Support and Resistance levels as well as possible future directions for the markets.
US Indices Analysis
22 February 2012
Dow Jones Market Analysis
The Wall street stock market index closed lower on Tuesday and the mid-range close sets the stage for a steady opening on Wednesday. If the Dow extends the rally off October's low, the 87% retracement level of the 2007-2009 decline crossing is the next upside target. Closes below the 20 day moving average crossing would confirm that a short-term top has been posted.
The US 500 stock market index closed slightly lower on Tuesday and the mid-range close sets the stage for a steady opening when Wednesday's night session begins trading. 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, weekly resistance crossing is the next upside target. Closes below the 20 day moving average crossing would confirm that a short-term top has been posted.
The Nasdaq 100 stock market index closed lower on Tuesday and the mid-range close sets the stage for a steady opening on Wednesday. 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, weekly resistance crossing is the next upside target. Closes below the 20 day moving average crossing would confirm that short-term top has been posted.
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Metals Markets Analysis
22 February 2012
Gold Market Analysis
The spot gold market closed sharply higher on Tuesday and the high-range close sets the stage for a steady-to-higher opening on Wednesday. Stochastics and the RSI are turning neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. If it renews the rally off December's low, the 62% retracement level of the September-December decline crossing is the next upside target. Closes below the reaction low crossing are needed to confirm that a short-term top has been posted.
The spot silver market closed sharply higher on Tuesday while extending the trading range of the past four weeks. The high-range close set the stage for a steady-to-higher opening on Wednesday. Stochastics and the RSI are turning neutral-to-bullish signalling that sideways-to-higher prices are possible near-term. If it renews the rally off December's low, October's high crossing is the next upside target. Closes below the reaction low crossing would confirm that a short-term top has been posted.
Metals spread betting markets may also be available through other companies. Notes.
Energies Markets Analysis
22 February 2012
Crude Oil Market Analysis
The US crude oil market closed higher on Tuesday and the high-range close sets the stage for a steady-to-higher opening on Wednesday. Stochastics and the RSI remain bullish signalling that sideways-to-higher prices are possible near-term. If it extends this month's rally, the 87% retracement level of 2011's decline crossing is the next upside target. Closes below the 20 day moving average crossing would confirm that a double top with January's high has been posted.
The natural gas market closed higher on Tuesday and the high-range close sets the stage for a steady-to-higher opening on Wednesday. Stochastics and the RSI are bullish signalling that sideways-to-higher prices are possible near-term. Closes above the reaction high crossing are needed to confirm that a short-term low has been posted. If it renews the multiyear 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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'Market Analysis', Article by PipTrade, last update: 22-Feb-12
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Market Analysis Index
Market Analysis Index – an index of free technical analysis features. Analysis considers Support and Resistance levels of the leading American Indices, Energies and Metals markets. See Market Analysis Index
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