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David Becker
4 hours ago

WTI Crude Daily Update for December 9, 2016

WTI crude oil prices rebounded on Thursday, after testing support near the 10-day moving average at 49.39, but failing to continue to downtrend that began following Wednesday’s release of inventory numbers from the Department of Energy.  While total crude oil stocks declined, there was a noticeably large increase in inventories at Cushing were WTI crude … Continue reading WTI Crude Daily Update for December 9, 2016

David Becker
4 hours ago

EUR/USD Prediction for December 9, 2016

The EUR/USD whipsawed following the ECB meeting where the central bank disappointed market participants with an extension of their asset purchase program, that was combined with a potential tapering of the volume of assets from 80 billion per month to 60 billion per month.  The currency pair initially shot higher, zipping up to resistance near … Continue reading EUR/USD Prediction for December 9, 2016

David Becker
4 hours ago

Gold Price Prediction for December 9, 2016

Gold prices edged lower on Thursday as the dollar gained traction following the ECB decision to taper its bond purchases when the current program ends in March. The extension will continue to see large bond purchases but at 60 billion per month as opposed to 80 billion per month. A stronger dollar generates headwinds for … Continue reading Gold Price Prediction for December 9, 2016

David Becker
4 hours ago

Natural Gas Technical Report for December 9, 2016

Natural gas prices rebounded on Thursday following a report from the Department of Energy on Inventories.  Prices bounded following the report near support near the 10-day moving average at 3.47.  Resistance is seen near the December highs at 3.75.  Colder than normal weather is forecast to cover most of the United States for the next … Continue reading Natural Gas Technical Report for December 9, 2016

Christopher Lewis
4 hours ago

Nikkei 225 Forecast December 9, 2016, Technical Analysis

The Nikkei 225 gapped higher at the open on Thursday, as we reached towards the ¥18,900 level. This market has broken out as most indices around the world now, so pullbacks should be thought of as value. The ¥18,500 level is the “floor” as far as I can see, and I still believe that we’re … Continue reading Nikkei 225 Forecast December 9, 2016, Technical Analysis

Christopher Lewis
4 hours ago

DAX Forecast December 9, 2016, Technical Analysis

The DAX rose during the day on Thursday, testing the €11,200 level above. It looks as if we could pullback, in order to build up more momentum as we have recently broken out. I believe that the €10,800 level below should be essentially a “floor” in this market. With this, I believe that the buyers … Continue reading DAX Forecast December 9, 2016, Technical Analysis

Christopher Lewis
4 hours ago

NASDAQ 100 Forecast December 9, 2016, Technical Analysis

The NASDAQ 100 rallied on Thursday, as we continue to see quite a bit of bullish pressure in general. The 4900 level above should continue to be the target going forward, as the NASDAQ 100 has a bit of catching up to do. I think pullbacks should continue to offer bullish pressure and support, as … Continue reading NASDAQ 100 Forecast December 9, 2016, Technical Analysis

Christopher Lewis
4 hours ago

S&P 500 Forecast December 9, 2016, Technical Analysis

The S&P 500 rallied on Thursday, reaching towards the 2250 level. This is an area that has a certain amount of psychological importance, so pullback from here would be expected. A pullback should offer value though, and a market that is obviously very bullish. I have no interest in shorting this market, and I believe … Continue reading S&P 500 Forecast December 9, 2016, Technical Analysis

Christopher Lewis
4 hours ago

FTSE 100 Forecast December 9, 2016, Technical Analysis

The FTSE 100 initially fell during the day on Thursday, but found enough support underneath to turn things back around and form a hammer. The hammer of course is a bullish candle and it looks as if we are going to try to reach towards the 7000 handle above. If we can break above that … Continue reading FTSE 100 Forecast December 9, 2016, Technical Analysis

Christopher Lewis
4 hours ago

Dow Jones 30 Forecast December 9, 2016, Technical Analysis

The Dow Jones 30 rallied on Thursday, as it continues to move to the upside in a parabolic manner. The recent election of Donald Trump seems to have a lot of people thinking that the Dow Jones 30 should continue to go higher due to infrastructure spending, and of course the more regulatory positive environment … Continue reading Dow Jones 30 Forecast December 9, 2016, Technical Analysis

Christopher Lewis
4 hours ago

Silver Forecast December 9, 2016, Technical Analysis

Silver markets fell slightly during the session on Thursday, as we continue to test the $17 level for support and importance. We are in a longer-term downtrend though, so if we can break down below the bottom of the candle I am a seller. The $17.50 level above is resistive as well, so even if … Continue reading Silver Forecast December 9, 2016, Technical Analysis

Christopher Lewis
4 hours ago

Crude Oil Forecast December 9, 2016, Technical Analysis

WTI Crude Oil The WTI Crude Oil market went back and forth on Thursday as the $50 level continues to attract a lot of attention in the market. This is not only because there is a large, round, psychologically significant number of this area, but as you can see on the chart, there’s also a … Continue reading Crude Oil Forecast December 9, 2016, Technical Analysis

Christopher Lewis
4 hours ago

Natural Gas Forecast December 9, 2016, Technical Analysis

The natural gas markets went back and forth during the day on Thursday, as we have seen quite a bit of volatility. The $3.50 level below is supportive, but if we break down below there I think we will see a gradual drift down to the $3.30 level below. The uptrend line should still be … Continue reading Natural Gas Forecast December 9, 2016, Technical Analysis

Christopher Lewis
5 hours ago

Gold Prices December 9, 2016, Technical Analysis

Gold markets fell slightly during the day on Thursday, as we continue to grind sideways overall with the longer-term downward bias. I still believe that we are going to reach towards the $1100 level below, and then eventually the $1000 handle. I think rallies at this point will more than likely be selling opportunities, and … Continue reading Gold Prices December 9, 2016, Technical Analysis

Christopher Lewis
5 hours ago

USD/JPY Forecast December 9, 2016, Technical Analysis

The USD/JPY pair fell at the open on Thursday but found enough support just above the 112.50 level to turn things around and form a nice-looking hammer. Nonetheless, I am a bit reticent to start going long at this point because I have no interest in buying a market that is overbought. We need to … Continue reading USD/JPY Forecast December 9, 2016, Technical Analysis

Christopher Lewis
5 hours ago

USD/CAD Forecast December 9, 2016, Technical Analysis

The USD/CAD pair fell after initially trying to rally on Thursday, forming a relatively suspect looking candle at the 1.32 level. This is an area that has quite a bit of support based upon a previous uptrend line, so a break down below the 1.32 level should send this market much lower. Alternately, if we … Continue reading USD/CAD Forecast December 9, 2016, Technical Analysis

Christopher Lewis
5 hours ago

NZD/USD Forecast December 9, 2016, Technical Analysis

The NZD/USD pair had a very volatile session on Thursday, and I now think that the previous uptrend line may offer quite a bit of resistance. If we can break down below the bottom of the scandal, the market should then drop at that point. Alternately, if we break above the top of the range, … Continue reading NZD/USD Forecast December 9, 2016, Technical Analysis

Christopher Lewis
5 hours ago

GBP/USD Forecast December 9, 2016, Technical Analysis

The British pound initially went higher during the day on Thursday but found enough resistance of the previous 50% Fibonacci retracement level again to turn things around and start falling. The market has a supportive trend line underneath, and because of this it looks as if the market will have a bit of support to … Continue reading GBP/USD Forecast December 9, 2016, Technical Analysis

Christopher Lewis
5 hours ago

GBP/JPY Forecast December 9, 2016, Technical Analysis

The GBP/JPY pair had a very calm session on Thursday, and thus it looks like we are going to probably roll over a little bit at this point. I think the 140 level is the massive support though, so having said that I feel the market should go lower to look for some type of … Continue reading GBP/JPY Forecast December 9, 2016, Technical Analysis

Christopher Lewis
5 hours ago

EUR/USD Forecast December 9, 2016, Technical Analysis

The EUR/USD pair initially tried to rally during the day on Thursday but found itself turning around due to the fact that the ECB is going to expand and links in its quantitative easing overall, and that of course is negative for the Euro. We seem all but guaranteed to test the 1.05 level below … Continue reading EUR/USD Forecast December 9, 2016, Technical Analysis

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