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Please do not print this report unless it is absolutely necessary. Save a tree. Date: 24/04/2014
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MARKET WATCH A leading online forex broker that offers
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Daily Technical Analysis Report
Please do not print this report unless it is absolutely necessary. Save a tree. Date: 24/04/2014
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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 1292. 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 19.530 19.805 19.950*
SUPPORTS 19.285 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
again see a fight to hold and recover, extending choppy congestion back inside last week’s
range, but rallies should stay contained within Monday’s range. 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
Commodities | Precious - Metals
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test at 290-. Trade continues a short term recovery, working rising congestion into a push to test
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 102.33 102.99* 103.83
SUPPORTS 101.27 101.19 100.42*
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 10299* 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: 1832.75
JUNE FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 1884.00 1892.50 -
SUPPORTS 1863.75 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: 16118
JUNE FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 16525 16574 -
SUPPORTS 16388 16317 16118*
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 3580.75 3596.00 3607.75*
SUPPORTS 3536.00 3511.50 -
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 353600-351150. 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 1480.00 1487.00 1498.00
SUPPORTS 1460.00 1455.00 -
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 474.10 479.40+ -
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 43.09 43.50 43.90
SUPPORTS 42.56 42.47* 42.20
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 684.00 695.00 699.00
SUPPORTS 672.00 670.00 661.00*
Comment : The market is short term bearish and targeting a selloff to test 661* retracement
support. A close under 668 should open up additional declines to 661*. Current minor
recovery action only suggests flagging congestion 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
Obj: None TRP: 511.50
JULY FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 511.00 516.00 524.00
SUPPORTS 501.00 496.00 494.00
Comment: The rebounding action has stalled bear trend forces and calls for rallies to challenge
around the 511 1/2* resistance level. A close over 511 1/2* will reverse trade into a secondary
drive against the early April spike high. A rejection from 511 1/2* warns for a slide back under
500-, but a close under 494 is needed to open up a larger selling wave.
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SUGAR ST Trend Sdwys/Up
Obj: 18.29 TRP: 17.50
JULY FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 18.06 18.29 18.42
SUPPORTS 17.72 17.50* 17.30
Comment: Yesterday’s thrust over recent congestion highs flips short term trend forces up
and calls for rallies to 1829. Trade is poised for rallies and stable action over 1789 will fuel
rallies. A close over 1836 is bullish. A close under 1750* or drop below 1730 marks a
reversing turn back to lower levels.
COFFEE ST Trend Up
Obj: 227.00 TRP: 200.15
JULY FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 218.90 219.45 227.00
SUPPORTS 20.475 201.00 200.15*
Comment : This week’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 Tuesday’s range and bull flag
to setup for continuation rallies. Only a close under 20015* 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 2994.00 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 93.25 94.66 96.76
SUPPORTS 92.44 91.70 90.45-
Comment: The market suggested an upturn from sideways trade for a climb against 9418*
resistance. A close over 9418* is bullish. However, yesterday’s spike lower implies a failed
upturn and we should be prepared for additional defensive congestion days at 9250-9150. 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 1.3844 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 1.6745 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: 0.9349
JUNE FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 0.9287 0.9310 0.9349*
SUPPORTS 0.9232 0.9209 0.9190
Comment: The market is signaling a negative turnover and on the verge of a larger selling wave. Look for continued pressured trade to probe at 9232-9209. A press under 9209 could open up a wash to 9101*. Trade may try to correct back within yesterday’s downturn, but a close over 9349* is needed to fully rekindle bull trend forces.
CANADIAN$ ST Trend Sdwys/Down
Obj: 0.9003 TRP: 0.9134
JUNE FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 0.9087 0.9130 0.9134*
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 9134* 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 1.1350 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.
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