Forecasts & Analysis | Page 3

Crude oil markets stabilize a bit during the day on Friday, which of course is a good sign considering that we had pulled back so drastically. That being said, it looks like the 200 day EMA continues to offer support.

Natural gas markets dipped a below the two dollars level momentarily during the day on Friday, as the natural gas markets continue to struggle. This being the case, there is nothing good looking about this chart, and as a result it’s likely that the market will continue to be miserable.

Gold markets rallied slightly during the trading session on Friday to in the week, showing signs of resiliency yet again. It looks as if we are very comfortable with the bullish uptrend.

The S&P 500 rallied again during the week, breaking out to a fresh, new high. This continues the pattern that we have seen for so long, as the American stock market continues to attract inflows.

Silver markets initially fell during the week but continue to find resiliency, as we are testing the shooting star from the previous week.

The crude oil markets fell initially during the week but have turned around to show signs of life again by forming a hammer. This has happened in both grades that I follow here at FX Empire.

Natural gas markets got hammered this week, breaking below the $2.00 level for the first time in ages, and this shows just how oversupplied this market truly is.

The gold fell a bit during the week, but then turned around to show signs of life again. We are above the $1550 level, but also have a shooting star above.

The US dollar broke above the ¥110 level during the week but continues to struggle above there. That being said though, this is a market that looks as if it is ready to go higher over the longer term, as we are now above the 200 week EMA.

The British pound went back and forth during the course of the week, as we get a lot of push back and forth from both buyers and sellers. The Friday session had a very poor retail sales figure release, and that of course weighed upon the market.