Gold closed higher due to short covering on Thursday as it consolidated some of this week's decline. The high-range close sets the stage for a steady to higher opening on Friday. However, stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. If it extends this week's decline, the reaction low crossing is the next downside target. Closes above the 10-day moving average crossing would confirm that a short-term low has been posted.
Silver closed higher due to short covering on Thursday as it consolidated some of Wednesday's decline. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. If it extends this week's decline, this month's low crossing is the next downside target. Closes above the 10-day moving average crossing would temper the near-term bearish outlook.
DJI closed sharply higher on Thursday renewing this month's rally. The mid-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher prices are possible near-term. SPI closed higher on Thursday as it extends this month's rally. The mid-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher prices are possible near-term. NDI closed sharply higher on Thursday renewing this month's rally. The mid-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher prices are possible near-term.
Crude Oil sharply higher due to short covering on Thursday as it consolidates some of Wednesday's decline but remains below the 20-day moving average crossing. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are turning bearish signalling that sideways to lower prices are possible near-term. If it extends Wednesday's decline, this month's low crossing is the next downside target.
Friday, July 31, 2009
Thursday, July 30, 2009
Wednesday, July 29, 2009
World market update for 29/07/2009
BULLION
Gold closed sharply lower due to profit taking on Tuesday and below the 10-day moving average crossing signalling that a short-term top has likely been posted. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are overbought and are turning bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing would confirm that a short-term top has been posted. If it extends this month's rally, the reaction high crossing is the next upside target.
Silver closed lower due to profit taking on Tuesday as it consolidated some of this month's rally. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are overbought and are turning neutral hinting that a short-term top might be in or is near. However, it will take closes below the 20-day moving average crossing to would temper the near-term friendly outlook in the market. If it extends this month's rally, the reaction high crossing is the next upside target.
U.S. STOCK MARKET INDICES
DJI closed lower due to profit taking on Tuesday as it consolidated some of its recent gains. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher prices are possible near-term. SPI closed lower due to light profit taking on Tuesday as it consolidates some of this month's rally. The mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher prices are possible near-term. NDI closed higher on Tuesday as it extends this month's rally. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher prices are possible near-term.
ENERGY
Crude Oil closed lower due to profit taking on Tuesday. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher prices are possible near-term. If it extends this month's rally, the reaction high crossing is the next upside target. Closes below the 20-day moving average crossing would confirm that a short-term top has been posted.
Natural Gas closed lower on Tuesday as it extended Monday's decline. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI have turned bearish hinting that a short-term top might be in or is near. Multiple closes below the 20-day moving average crossing would temper the near-term friendly outlook. If it extends the rally off this month's low, the reaction high crossing is the next upside target.
Tuesday, July 28, 2009
world market update for 28/07/2007
BULLION
Gold closed higher on Monday as it extends last week's trading range. The mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher prices are possible near-term. If it extends this month's rally, the reaction high crossing is the next upside target. Closes below the 20-day moving average crossing would confirm that a short-term top has been posted.
Silver closed higher on Monday as it extends this month's rally. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are overbought but remain bullish signalling that sideways to higher prices are possible near-term. If it extends this month's rally, the reaction high crossing is the next upside target. Closes below the 20-day moving average crossing would temper the near-term friendly outlook in the market.
U.S. STOCK MARKET INDICES
DJI closed higher on Monday as it extends last week's breakout above June's high crossing. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher prices are possible near-term. SPI closed higher on Monday as it extends this month's rally. The mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher prices are possible near-term. NDI closed higher on Monday as it extends this month's rally. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher prices are possible near-term.
ENERGY
Crude Oil closed higher on Monday extending the rally off this month's low. Profit taking tempered early gains and the mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are becoming overbought but remains bullish signalling that sideways to higher prices are possible near-term. If it extends today's rally, the reaction high crossing is the next upside target. Closes below the 20-day moving average crossing would confirm that a short-term top has been posted.
Natural Gas closed lower on Monday due to light profit taking but remains above the 20-day moving average crossing. The mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are turning bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing would temper the near-term friendly outlook. If it extends the rally off this month's low, the reaction high crossing is the next upside target.
Monday, July 27, 2009
World market daily chart update for 27/07/2009
BULLION
Gold closed higher on Friday as it extends this week's trading range. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near- term. If it extends the rally, the reaction high crossing is the next upside target. Closes below the 20-day moving average crossing would confirm that a short-term top has been posted.
Silver closed higher on Friday as it extends this week's rally. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near- term. If it extends this week's rally, the reaction high crossing is the next upside target. Closes below the 10- day moving average crossing would temper the near-term friendly outlook in the market.
U.S. STOCK MARKET INDICES
DJI closed higher on Friday as it extends this week's breakout above June's high crossing. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher prices are possible near-term. SPI closed higher on Friday extending this week's rally above resistance marked by June's high crossing. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher prices are possible near-term. NDI closed higher on Friday as it extends this month's rally. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher prices are possible near- term.
ENERGY
Crude Oil closed higher on Friday extending Thursday's breakout above the 20-day moving average crossing. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. If it extends this week's rally, the reaction high crossing is the next upside target. Closes below the 10-day moving average crossing would confirm that a short-term top has been posted.
Friday, July 24, 2009
World market daily update for 24/07/2009
BULLION
Gold closed slightly higher on Thursday and the high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. If it extends the rally, the reaction high crossing is the next upside target. Closes below the 10-day moving average crossing would temper the near-term friendly outlook in the market.
Silver closed higher on Thursday and the high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. If it extends the rally, the reaction high crossing is the next upside target. Closes below the 10-day moving average crossing would temper the near-term friendly outlook in the market.
U.S. STOCK MARKET INDICES
DJI closed higher on Thursday and the high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are underbought but remain neutral to bullish signalling that sideways to higher prices are possible near-term. SPI closed higher on Thursday and the high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are underbought but remain neutral to bullish signalling that sideways to higher prices are possible near-term. NDI closed higher on Thursday as it extends this month's rally. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher prices are possible near-term.
ENERGY
Crude Oil closed higher on Thursday and the high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are oversold but remain neutral to bullish signalling that sideways to higher prices are possible near-term. Closes below the 10-day moving average crossing would confirm that a short-term top has been posted.
Thursday, July 23, 2009
world market daily update for 23/07/2009
BULLION
Gold posted an inside day with ah igher close on Wednesday as it consolidates some of Tuesday's decline as the dollar weakened. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. If it extends the rally, the reaction high crossing is the next upside target. Closes below the 10-day moving average crossing would temper the near-term friendly outlook in the market.
Silver posted an inside day with ah igher close on Wednesday as the dollar slipped. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. If it extends the rally, the reaction high crossing is the next upside target. Closes below the 10-day moving average crossing would temper the near-term friendly outlook in the market.
U.S. STOCK MARKET INDICES
DJI closed lower on Wednesday a stocks fell after a seven-day rally. The mid-range close sets the stage for a steady to weaker opening on Thursday. Stochastics and the RSI are underbought but remain neutral to bullish signalling that sideways to higher prices are possible near-term. SPI closed slightly lower on Wednesday as stocks fluctuated as a drop in oil prices led energy producers lower. The mid-range close sets the stage for a steady to weaker opening on Thursday. Stochastics and the RSI are underbought but remain neutral to bullish signalling that sideways to higher prices are possible near-term. NDI closed higher on Wednesday as it extends this month's rally. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher prices are possible near- term.
ENERGY
Crude Oil posed an inside day and closed lower on Wednesday due to profit taking as there was a smaller-than- forecast decline in inventories. The mid-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are oversold but remain neutral to bullish signalling that sideways to higher prices are possible near-term. Closes below the 10-day moving average crossing would confirm that a short-term top has been posted.
Natural Gas closed higher on Wednesday as it consolidates above the 20-day moving average crossing. The mid-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. If it extends the rally off last week's low, the reaction high crossing is the next upside target. Closes below the 10-day moving average crossing would temper the near-term friendly outlook.
Wednesday, July 22, 2009
world market daily update for 22/07/2009
BULLION
Gold closed higher on Monday as it extends last week's rally. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. If it extends the rally, the reaction high crossing is the next upside target. Closes below the 10-day moving average crossing would temper the near-term friendly outlook in the market.
Silver closed higher on Monday and above the 20-day moving average crossing confirming that a short- term low has been posted. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. If it extends today's rally, the reaction high crossing is the next upside target. Closes below the 10-day moving average crossing would temper the near-term friendly outlook in the market.
U.S. STOCK MARKET INDICES
DJI closed higher on Monday as it extends this month's rally. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are overbought but remain bullish signalling that sideways to higher prices are possible near-term. SPI closed higher on Monday as it extends this month's rally. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are overbought but remain bullish signalling that sideways to higher prices are possible near-term. NDI closed higher on Monday and above the 50% retracement level of last summer's decline crossing as it extends this month's rally. The mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are overbought but remain bullish signalling that sideways to higher prices are possible near-term.
ENERGY
Crude Oil closed higher on Monday and above the 20-day moving average crossing confirming that a short- term low has been posted. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. Closes below the 10-day moving average crossing would temper the near-term friendly outlook in the market.
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