Forecasts & Analysis, Page 1

It’s a mixed start to the day for the majors. A move through key levels would be needed to avoid a sell-off later in the day.

The S&P 500 did very little during the trading week, as Friday was a holiday. The volume is very low, and of course we are in the middle of earnings season. Beyond that we are at the top of the market, and of course there is a lot of resistance

Silver markets went back and forth during the week, which probably had quite a bit of trading volume socked out of it due to the Easter holiday coming, and of course the Good Friday holiday Matt that it was only a four day week to begin with.

Crude oil markets continue to go back and forth as this week was no different than the previous week. The resistance just above is causing some issues for the WTI market, while the Brent market seems to be spinning its wheels and waiting for its cousin to come along.

Natural gas markets fell hard during the week, cracking through the $2.50 level on Thursday which was the last trading day of the week. Now that we are in this extreme area, this chart looks very sick.

Gold markets fell rather hard during the week, crashing into what I believe is a significant support level. It will be interesting to watch what happens next, but clearly we have seen a complete change in attitude over the last several weeks.

The US dollar has gone back and forth against the Japanese yen, reaching at the ¥112 level, which of course has been massive resistance. That being said, it looks as if we have work to do.

The British pound fell during the week, crashing into the 1.30 level which of course has been supportive in the past. The market has been grinding back and forth, and at this point there are several levels we should be watching.

The British pound fell during the week, reaching down towards the ¥145 level. At this point, the market is trying to find a bit of a springboard underneath, but we may have a little further to go.

The Euro fell during the week, reaching down towards the 1.12 level yet again. Now having said that it’s likely that we have a big fight on our hands just below current trading.

The Australian dollar initially tried to rally during the week but also gave back the gains to roll over and form a bit of a shooting star. We are starting to see resistance at an area where you would expect it, so it makes sense that we get a bit

Silver markets went back and forth all week, as we are sitting just below the $15.00 level, an area that is obviously a psychologically important, so it’s going to be interesting to see where we go next as we form a larger pattern.

The S&P 500 fell slightly during the Thursday session and then turned around to recover the losses. Obviously with Friday being Good Friday, the underlying index wasn’t trading.

Crude oil markets were of course closed on Friday for the Good Friday holiday, but at this point it’s obvious that we are killing time, perhaps trying to break above major resistance.

The underlying natural gas futures were not open on Good Friday, but that doesn’t mean that we can’t take a look at the charts and glean some information going forward. As we roll through the Easter weekend, it’s easy to see that we are at a very important spot.

Gold markets have been sitting on major support for the last couple of trading days but were closed for Good Friday. At this point, we are at a major inflection point and could be setting up for a big move.

The US dollar continues to go sideways overall against the Japanese yen, as we head into the Easter holiday. At this point, the lack of liquidity would have made the candlestick on Friday less than impressive, but quite frankly if you look at the rest of the week, it was

The British pound has bounced slightly during a very illiquid Friday session, as most people were away celebrating the holiday.

With the lack of liquidity on Friday, the British pound didn’t do much against the Japanese yen. However, we are at a very interesting level that we should be paying attention to.

The Euro bounced slightly during trading on Friday as low-volume would have made this an unreliable market. We are currently trading around a major support level though, so a bounce would have course made quite a bit of sense.