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Please do not print this report unless it is absolutely necessary. Save a tree. Date: 23/04/2014
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Daily Technical Analysis Report
Please do not print this report unless it is absolutely necessary. Save a tree. Date: 23/04/2014
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GOLD ST Trend Sdwys/Down
Obj: 1264.00- TRP: 1310.20
JUNE FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 1292.00 1294.50 1300.00+
SUPPORTS 1273.00 1264.00- 1262.00
Comment: The market alignment is bearish and pressing to extend a breakout under the
early April swing low. A press through 1275-1273 alerts for declines to weekly support at
1264-1262. The reluctance to extend yesterday’s penetration under the early April low may
prompt minor corrections and flagging congestion back near 1300. Only a close over 131020*
marks a reversing turn back to higher prices.
SILVER ST Trend Down
Obj: 18.950- TRP: 19.950
MAY FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 19.545 19.805 19.950*
SUPPORTS 19.160+/- 18.800- -
Comment: The market is short term bearish and calls for continued probes against old basing
levels from late last year, likely reaching for 1895-. A close under 18685 is bearish. We may
see a fight to hold and bounce off 1916+/-, leading to choppy congestion back inside last
week’s range, but only a close over 1995* signals a short term turnaround.
COPPER ST Trend Sdwys /Down
Obj: None TRP: 3.0885
MAY FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 3.0700 3.0885* -
SUPPORTS 3.0030 2.9925 2.9595
Comment: Overall the market is still bearish and drop below 29595 could resume declines to
test at 290-. Trade continues a short term recovery, working rising congestion into a push to test
Commodities | Precious - Metals
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30885* resistance for a bottoming turn. Be careful for a setback from 30885* to prompt secondary
selloffs. A close over 30885* implies a drive to 315-31650.
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CRUDE OIL ST Trend Sdwys/Up
Obj: None TRP: 100.42
JUNE FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 102.39 103.11* 103.83
SUPPORTS 101.30 100.42* -
Comment: Overall the market is in a bull trend, but backing off into a near term correction
that could retrace to test support at 10042*. A close under 10042* signals a short term turnover
and harder corrections below 100-. However, suspect a fight to bounce trade off 10042* and
attempt secondary rallies. A close over 10311* or pop over 10383 projects a drive to 105+.
NATURAL GAS ST Trend Up
Obj: None TRP: 4.614
JUNE FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 4.801 4.845 5.089*
SUPPORTS 4.668 4.640+/- 4.614*
Comment: The market is short term friendly and positioned for pressing rallies to challenge the
late February reversal high. A breakout over 4893 projects to 5089*. We may see corrective
congestion back within last Thursday’s range, but support over 4614* will provide a staging
level for rallies. Only a close under 4614* signals a reversing turn, extending defensive trade
back along 4500.
Commodities | ENERGY
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MINI S&P ST Trend Sdwys/Up
Obj: 1886.00 TRP: 1832.00
JUNE FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 1884.00 1892.50 -
SUPPORTS 1862.25 1854.00 1848.00
Comment: The market is muscling a bullish climb back through the last selloff and positioned
to run trade into a breakout test of the last swing high. A close over 188625 implies a bull
moves to 1914-1020. Be prepared for a corrective pullback around the central levels of trade
over the past couple months at 1854+/-, but holding over 1848+ should setup a staging level
for rallies.
MINI DOW ST Trend Sdwys/Up
Obj: 15960 TRP: 16116
JUNE FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 16525 16574 -
SUPPORTS 16388 16317 16116*
Comment : The market has forced a bullish upturn and positioned to attack the last swing
high. A close over 16574 implies a bull moves beyond 16800+. Be prepared for a corrective
pullback around the central levels of trade over the past couple months just over 16200+, but
holding over 16200+ should setup a staging level for rallies.
MINI NASDAQ ST Trend Sdwys/Down
Obj: None TRP: 3607.75
JUNE FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 3590.50 3592.00 3607.75
SUPPORTS 3553.50 3536.00 3508.00
Comment: Overall the market is still in a bear trend, although current rebounding action alerts
for a lifting run to challenge against the 360775* resistance. A close over 360775* confirms a
T Bonds | INDICES
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bottoming turn and calls for continued climbing moves to 365500-367500. Be on guard for a
rejection from 360775* that could send secondary selloffs around 353600-350800. A close under
349000 is negative.
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SOYBEANS ST Trend Sdwys/Up
Obj: None TRP: 1455.75
JULY FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 1485.00 1487.00 1498.00+
SUPPORTS 1462.00 1460.00 1355.00
Comment: Overall the market remains in a bull trend, but a surge over 1498+ is needed to
rekindle bull trending to stretch for a new high. Yesterday’s slip lower warns for corrections
into today-Thursday, but a close under 1455 3/4* is needed to start a topping turn. Be careful
for a bounce off 1455 3/4* on the first test.
SOYMEAL ST Trend Sdwys/Up
Obj: 488.00 TRP: 460.80
JULY FUTURE LEVE1 LEVEL2 LEVEL3
RESISTANCES 464.00 479.40+ -
SUPPORTS 466.50 460.80* -
Comment: Overall the market is bullish, but a punch over 47940+ is needed to spark a run
that attacks for a breakout at new highs and a fresh drive to 488. Yesterday’s weak close hints
for corrective trade into today- Thursday. A sustained penetration under 46080* warns for a
peaking turn and drop under 449-.
SOYBEAN OIL ST Trend Sdwys/Up
Obj: None TRP: 41.55
JULY FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 42.64 43.18* -
SUPPORTS 42.74 42.56 42.47*
Comment: The market muscled into a short term bull trend last week with potential to probe
against the early March swing high. However, a pop over Monday’s high is needed to rekindle
bull forces for a run to 4470+. Yesterday’s weak close hints for a few defensive days that ease
Commodities | GRAINS
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against 4247* support. A close under 4247* warns for sustained corrections.
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WHEAT ST Trend Sdwys/Down
Obj: 661.00 TRP: 687.25
JULY FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 684.00 687.00 699.00
SUPPORTS 670.00 661.00* -
Comment : The market is short term bearish and targeting a selloff to test 661* retracement
support. A close under 661* should open up additional declines to 647 1/2-639 1/4.
Yesterday’s minor recovery only suggests flagging action and staying under 687 3/4* will
prompt follow through selloffs. A close over 687 3/4* will shift trade back to sideways
congestion in the 678-699 1/2* zone for a few days.
CORN ST Trend Sdwys/Down
Obj: None TRP: 497.00
JULY FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 511.00 524.00 -
SUPPORTS 495.00 491.00 488.00-
Comment: The market is extending a peaking turn and we should be prepared for additional
declines into the 490-480 zone. A drop under Monday’s low should promote selloffs into the
end of the week. A close over 511 1/2* is needed to reverse trade into a secondary drive against
the early April spike high.
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SUGAR ST Trend Sdwys/Down
Obj: 16.82 TRP: 17.95
JULY FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 17.71 17.75 17.95*
SUPPORTS 17.19 16.82 -
Comment: The market is mostly caught within sideways drifting congestion, but suggests a
slide downside trend bias, warning for declines to 1700-1680. Trade may try to climb back
into recent congestion and extend sideways higher flagging action. However, only a close
over 1795* rekindles bull trend forces.
COFFEE ST Trend Up
Obj: 227.00 TRP: 198.90
JULY FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 219.45 227.00 -
SUPPORTS 20.475 201.00 198.90*
Comment : Yesterday’s punch into a new high signals a bull breakout and should kick off
climbing rallies to 227. Stable action over 210+/- should foster follow through rallies today.
Any 2-3 day near term corrections should fight to hold within yesterday’s range and bull flag
to setup for continuation rallies. Only a close under 19890* marks a reversing turnover.
COCOA ST Trend Sdwys/Up
Obj: None TRP: 2965.00
JULY FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 3030.00 3047.00 -
SUPPORTS 2991.00 2965.00* 2940.00-
Comment: The sideways trade of the past week leaves trade in a positive alignment, hinting for
a breakout attack over the 3047 swing high. Any corrective dips that hold off the 2965* should
build for rallies to attack over 3047+. Be prepared for another sideways congestion day, but last
Commodities | SOFTS
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week’s bounce from 2975-65* favors rallies to attack old highs.
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COTTON ST Trend Sdwys/Up
Obj: 94.18 TRP: 89.49
JULY FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 94.18* 94.66 96.76
SUPPORTS 92.44 91.70 90.45-
Comment: The market is triggering an upturn from sideways trade and calls for secondary
rallies. Stable action over 9275+/- should motivate a climb against 9418* resistance. A close over
9418* is bullish. Be prepared for a slip right back into sideways trade of recent weeks, but a
close under 9045 is needed to drive selloffs to attack 8949* for a larger downturn.
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EURO ST Trend Sdwys/Up
Obj: 1.3966 TRP: 1.3758
JUNE FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 1.3849 1.3886 1.3930+
SUPPORTS 1.3782 1.3758* -
Comment : The market holds a short term friendly trend bias, but near term appears to be
working through defensive flagging corrections that may yet pressure dips under 13800-. A
close under 13758* is needed for a downturn and sustained selloffs under 13700-. Look for a
bounce off 13758*. A push over 13849+ could spark rallies, but a close over 13885 is needed to
send trade to attack the 13966 swing high.
B POUND ST Trend Sdwys/Up
Obj: 1.7000+ TRP: 1.6714
JUNE FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 1.6870 1.7000+ -
SUPPORTS 1.6780- 1.6741 1.6714
Comment: The market is bullish and breakout into new highs opens up potential for an
emerging bull wave over 170+. Stable action over 168+ should encourage rallies. A slip under
Monday’s low warns for near term defensive trade around 16750+/- to develop a bull flag,
but only a close under 16714* voids the breakout and signals for short term selloffs into the
167-166 levels.
J YEN ST Trend Up
Obj: None TRP: 0.9702
JUNE FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 0.9797 0.9821* 0.9877
SUPPORTS 0.9737 0.9734 0.9702*
Comment: In general the market holds a slight bull bias, but near term trade is backing away
Forex | CURRENCIES
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from previous congestion resistance highs and could extend defensive consolidation action
around 9800-9702* for another week. A close under 9702* is bearish. A close over 9821* calls for
another thrust against congestion range highs. A breakout over 9886-89 creates a bull swing
objective to 10030.
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AUSSIE$ ST Trend Up
Obj: None TRP: 0.9259
JUNE FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 0.9355 0.9399 0.9416
SUPPORTS 0.9286 0.9278 0.9259*
Comment: The market is bullish, but near term action has shifted into near term corrections
that may extend flagging congestion through this week. Only a close under 9259* confirms a
peaking turnover and retracement near 9144. A pop over 9355 will spark fresh buying, but
key on a breakout thrust beyond 9385+ to kick off a fresh bull wave into a new high, reaching
for 9457-9480.
CANADIAN$ ST Trend Sdwys/Down
Obj: 0.9003 TRP: 0.9137
JUNE FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 0.9092 0.9130 0.9137*
SUPPORTS 0.9037 0.9003 0.8985
Comment: The market is signaling a shift to short term bear trending moves that could
continue a slide along 9003-. A drop through 9037- will promote declines. Any rally attempts
should struggle in the low 9100’s and only a close over 9137* marks a return to bull trending
moves that will attack the 9195 swing high.
SWISS FRANC ST Trend Sdwys
Obj: None TRP: 1.1279
JUNE FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 1.1338 1.1379 1.1428
SUPPORTS 1.1285 1.1279* 1.1222-
Comment: The market shows near term corrections pressuring for a test of the 11279* support,
but trade that holds 11279* retains a slight bull bias. A pop over 11397 could launch another bull
wave to push for a test / breakout over the mid-March swing high. A close under 11279* marks
a reversing turnover and drop against the early April swing low.
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Disclaimer: This Report Is only for General Information. Opinions/Estimates Contained Herein is Subject to
Change without Notice. The Data/Information Herein Provided Is Believed to Be Reliable But Does Not Warrant
for Its Accuracy/Completeness. We are Not Liable for Any Action Taken by Any Party Based on the above
Information. This Material Is Not Intended As An Offer Or Solicitation for the Purchase or Sale of Any Financial
Instrument.