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David Becker
7 hours ago

WTI Crude Daily Update for December 12, 2016

WTI crude oil prices moved higher on Friday despite a robust build in the number of active oil rigs reported by Baker Hughes.  Prices held support near the 10-day moving average at 49.92, and are poised to test resistance near the December highs at 52.45.  Momentum remains positive as the MACD (moving average convergence divergence) … Continue reading WTI Crude Daily Update for December 12, 2016

David Becker
7 hours ago

EUR/USD Prediction for December 12, 2016

The EUR/USD moved lower on Friday, sinking below the 1.06 handle and poised to test support near the November lows at 1.0517.  Resistance is seen near the 10-day moving average at 1.0660. Momentum is flat with the MACD (moving average convergence divergence) index prints in the black with a flat trajectory which points to consolidation. … Continue reading EUR/USD Prediction for December 12, 2016

David Becker
7 hours ago

Gold Price Prediction for December 12, 2016

Gold prices moved lower closing at a fresh 9-month low as the dollar continued to gain traction paving the way for lower gold prices.  Resistance is seen near the 10-day moving average at 1,175, while support is seen near the July lows at 1,076.  A stronger than expected Chinese Inflation report failed to list gold … Continue reading Gold Price Prediction for December 12, 2016

David Becker
7 hours ago

Technical Natural Gas Report for December 12, 2016

Natural gas prices moved higher on Friday climbing slightly more than 1.1% and notching up a fresh 1-year high.  Colder than normal weather is forecast to cover most of the United States for the next 6-14 days which should increase heating demand and increase the demand for natural gas. Support is seen near the 10-day … Continue reading Technical Natural Gas Report for December 12, 2016

Christopher Lewis
7 hours ago

Nikkei 225 forecast for the week of December 12, 2016, Technical Analysis

The Nikkei 225 continue to go higher during the week, as we have completely broken out to the upside. I believe that the USD/JPY pair continues to go higher, and these two markets tend to move in the same direction. I also recognize that the 18,500 and level below will be supportive, and that we … Continue reading Nikkei 225 forecast for the week of December 12, 2016, Technical Analysis

Christopher Lewis
7 hours ago

DAX forecast for the week of December 12, 2016, Technical Analysis

The German Index rallied on the falling of the Euro, and now looks set to continue going much higher. We broke out above the resistance of the €10,800 level, and it now looks as if we are ready to continue to go much higher over the longer term, with pullbacks offering support that we can … Continue reading DAX forecast for the week of December 12, 2016, Technical Analysis

Christopher Lewis
7 hours ago

NASDAQ 100 forecast for the week of December 12, 2016, Technical Analysis

The US markets all look very bullish, and the NASDAQ 100 seems to be following suit now. As we find ourselves closing towards the 4900 level, a break above to a fresh, new I could give traders an opportunity to take advantage of the strong US indices overall, and perhaps make money in this market … Continue reading NASDAQ 100 forecast for the week of December 12, 2016, Technical Analysis

Christopher Lewis
7 hours ago

S&P 500 forecast for the week of December 12, 2016, Technical Analysis

The S&P 500 broke higher over the week, clearing the 2250 handle. This is a market that looks like it is ready to continue going higher, and at this point in the short-term pullback that shows even the remotest amount of support should be a buying opportunity. I also believe the breaking above the top … Continue reading S&P 500 forecast for the week of December 12, 2016, Technical Analysis

Christopher Lewis
7 hours ago

FTSE 100 forecast for the week of December 12, 2016, Technical Analysis

The FTSE rallied during the course of the week, forming a massively large candle. It looks as if we’re going to continue to try to go higher, as we press against the 7000 handle. The 7125 level above should give a little bit of resistance but I think we are going to break out. I … Continue reading FTSE 100 forecast for the week of December 12, 2016, Technical Analysis

Christopher Lewis
7 hours ago

Dow Jones 30 forecast for the week of December 12, 2016, Technical Analysis

The Dow Jones 30 rallied during the past week, as we continue to explode with this “Santa Claus rally.” I believe that given enough time we should pull back but that should only find buyers at lower levels. I certainly wouldn’t be shorting any of the US indices right now, and the Dow Jones 30 … Continue reading Dow Jones 30 forecast for the week of December 12, 2016, Technical Analysis

Christopher Lewis
7 hours ago

Silver forecast for the week of December 12, 2016, Technical Analysis

Silver markets went back and forth during the course of the week, showing quite a bit of volatility. The $16.50 level below offers quite a bit of support, but the $17 level above continues to be resistance. This neutral candle should continue to show how choppy this market is but I believe eventually the sellers … Continue reading Silver forecast for the week of December 12, 2016, Technical Analysis

Christopher Lewis
7 hours ago

Crude Oil forecast for the week of December 12, 2016, Technical Analysis

WTI Crude Oil The WTI Crude Oil market went back and forth during the week, testing the $52 level on the top, and the $50 level on the bottom. During the weekend, we have a meeting between OPEC and non-OPEC countries, discussing a possible deal for the non-OPEC countries to join the OPEC-led production cuts. … Continue reading Crude Oil forecast for the week of December 12, 2016, Technical Analysis

Christopher Lewis
7 hours ago

Natural Gas forecast for the week of December 12, 2016, Technical Analysis

The natural gas markets rallied during that week, reaching towards the $3.75 level. At this point, the market is far too overextended, as we continue to see bullish pressure and as a result I think that it’s only a matter time before a pullback offers value the people will take advantage of. The market is … Continue reading Natural Gas forecast for the week of December 12, 2016, Technical Analysis

Christopher Lewis
7 hours ago

Gold forecast for the week of December 12, 2016, Technical Analysis

Gold markets initially try to rally during the week and formed a relatively negative candle. It now looks as if we’re going to reach towards the $1100 level underneath, and then eventually down to the $1000 level. Anytime we rally at this point in time, I feel that the sellers will continue to jump into … Continue reading Gold forecast for the week of December 12, 2016, Technical Analysis

Christopher Lewis
7 hours ago

USD/JPY forecast for the week of December 12, 2016, Technical Analysis

The USD/JPY pair rallied again during the week, breaking above the 115.00 level on Friday. The market looks as if it is ready to try to continue going higher, but quite frankly it is overextended by just about any measure of the market. With this, I believe that a pullback is coming, and quite frankly … Continue reading USD/JPY forecast for the week of December 12, 2016, Technical Analysis

Christopher Lewis
7 hours ago

USD/CAD forecast for the week of December 12, 2016, Technical Analysis

The USD/CAD pair initially rally during the week, but as you can see turnaround and formed a slightly negative candle. We are testing an important ultralight as well, so it looks as if we’re going to have to make some type of decision soon. This makes a lot of sense, as the OPEC and non-OPEC … Continue reading USD/CAD forecast for the week of December 12, 2016, Technical Analysis

Christopher Lewis
7 hours ago

NZD/USD forecast for the week of December 12, 2016, Technical Analysis

The NZD/USD pair had a slightly choppy week, as we went back and forth to form a relatively neutral candle. The market looks as if it is willing to test in the previous uptrend line, and as a result we could get a bit of a rollover. The market should find plenty of support near … Continue reading NZD/USD forecast for the week of December 12, 2016, Technical Analysis

Christopher Lewis
7 hours ago

GBP/USD forecast for the week of December 12, 2016, Technical Analysis

The British pound had an initial move higher during the week, but turnaround form a negative candle as you can see on the chart. I think that we are trying to rollover a little bit, and quite frankly have no interest in buying this market from the longer term perspective anyhow. I think that the … Continue reading GBP/USD forecast for the week of December 12, 2016, Technical Analysis

Christopher Lewis
7 hours ago

GBP/JPY forecast for the week of December 12, 2016, Technical Analysis

The GBP/JPY pair had a slightly positive week, as we approached the 145 level. I believe that this market will actually break out to the upside we may need to pull back a little house the move has been so parabolic. Because of this, I’m going to wait see what happens with the other Japanese … Continue reading GBP/JPY forecast for the week of December 12, 2016, Technical Analysis

Christopher Lewis
7 hours ago

EUR/USD forecast for the week of December 12, 2016, Technical Analysis

The EUR/USD pair initially rally during the week, but you can see that we fell rather precipitously. This was mainly due to the ECB suggesting that quantitative easing wasn’t going to end in March 2017, but rather at the end of the year. With this, it was of course negative for the Euro and we … Continue reading EUR/USD forecast for the week of December 12, 2016, Technical Analysis

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