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Daily Technical Analysis Report
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GOLD ST Trend Down RANGE REVERSAL 26.16
SWING POINT 1308.80 SWING TARGET 1261.70
JUNE FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 1310.60 1311.99 -
SUPPORTS 1292.61 1276.65 -
Comment : 1* The directional selloff shows a strong probability for a corrective rebound
today above 1311.99. 2* The downside objectives for this formation range from 1261.70 to
1260.10 with a close over 1316.92 needed to negate a bear trading stance. 3* Market is within
proximity of this week's projected support range of 1268.20-1284.74, which may provide a
likely zone for bottoming action or rebounds.
SILVER ST Trend Down RANGE
REVERSAL 62.75
SWING POINT 19.8650 SWING TARGET 1888.50
MAY FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 19.8534 1989.04 -
SUPPORTS 19.3975 19.1400 -
Comment: 1* The downside objectives for this formation range from 1888.50 to 1863.50 with a
close over 1982.87 needed to negate a bear trading stance. 2* Market is within proximity of
this week's projected resistance range of 2020.62- 1981.00, which may provide a likely zone
for topping action or setbacks.
COPPER ST Trend Neutral RANGE
REVERSAL 8.10
SWING POINT 3.0721 SWING TARGET None
MAY FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 3.0524 3.0925 -
SUPPORTS 2.9965 2.9855 -
Commodities | Precious - Metals
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Comment: 1* Market is challenging a previous daily swing high and may attempt a breakout.
Closing beyond 307.40 calls for continuation rallies. A failure around 307.40 cautions for a
reactionary setback. 2* Market is within proximity of this week's projected resistance range of
307.73-304.40, which may provide a likely zone for topping action or setbacks.
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CRUDE OIL ST Trend Up RANGE
REVERSAL 1.87
SWING POINT 102.89 SWING TARGET 106.03
MAY FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 104.54 105.00
-
SUPPORTS 103.06 102.88 -
Comment: 1* Market showing a preliminary breakout over a previous weekly swing high
and needs to quickly extend rallies into a close beyond 104.48. Failure to extend the breakout
today-tomorrow alerts for a bull failure. A close under 101.94 helps confirm a breakout
failure. 2* Yesterday's failed test over the (104.48) swing high and weak close alerts for a
reversal selloff the next 1-2 days and chance for larger trend turn barring a penetration over
104.99 or close over 104.48. Overbought adds a strong bias for corrections with this signal. 3*
Yesterday's range reversal alerts for a turnaround in the trend and suggests follow-through
selloffs the next 1-3 days and could highlight a larger trend directional change. Only a close
over 103.83 negates the turning signal. 4* The upside target zone for this pattern is from
106.03 to 106.19 with a close under 103.70 needed to negate a bull trading stance. 5* Market is
within proximity of this week's projected resistance range of 105.82-104.57, which may
provide a likely zone for topping action or setbacks.
NATURAL GAS ST Trend Up RANGE
REVERSAL 1.42
SWING POINT 4.513 SWING TARGET 4.810
MAY FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 4.594 4.608 -
SUPPORTS 4.470 4.460 -
Comment: 1* Market is within proximity of this week's projected resistance range of 47.09-45.56,
which may provide a likely zone for topping action or setbacks.
Commodities | ENERGY
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MINI S&P ST Trend Down RANGE
REVERSAL 28.62
SWING POINT 1858.95 SWING TARGET 1793.30
JUNE FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 1864.01 1870.95 -
SUPPORTS 1842.34 1836.16 -
Comment: 1* Yesterday's retracement against the outside day 4 days ago hurts reliability for
bear follow-through moves. 2* Market is challenging a previous daily swing high and may
attempt a breakout. Closing beyond 1867.10 calls for continuation rallies. A failure around
1867.10 cautions for a reactionary setback. 3* Yesterday's close has penetrated above a key
(1842.84) resistance point, implying a trend turn and follow-through moves in coming days.
4* Market is within proximity of this week's projected support range of 1822.70-1844.70,
which may provide a likely zone for bottoming action or rebounds.
MINI DOW ST Trend Down RANGE REVERSAL 2.35
SWING POINT 16386 SWING TARGET 15863
JUNE FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 16430 16492 -
SUPPORTS 16247 16199 -
Comment : 1* Yesterday's retracement against the outside day 4 days ago hurts reliability for
bear follow-through moves. 2* Market is challenging a previous daily swing high and may
attempt a breakout. Closing beyond 163.84 calls for continuation rallies. A failure around
163.84 cautions for a reactionary setback. 3* Yesterday's close has penetrated above a key
(163.09) resistance point, implying a trend turn and follow-through moves in coming days. 4*
Market is within proximity of this week's projected resistance range of 166.07-164.83, which
may provide a likely zone for topping action or setbacks.
T Bonds | INDICES
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MINI NASDAQ ST Trend Down RANGE
REVERSAL 78.81
SWING POINT 3473.88 SWING TARGET 3329.75
JUNE FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 3529.53 3536.50 -
SUPPORTS 3467.24 3448.45 -
Comment: 1* The downside objectives for this formation range from 3329.75 to 3285.00 with a
close over 3553.66 needed to negate a bear trading stance. 2* Market is within proximity of this
week's projected support range of 3428.88- 3464.58, which may provide a likely zone for
bottoming action or rebounds.
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SOYBEANS ST Trend Up RANGE
REVERSAL 28.75
SWING POINT 1513.00 SWING TARGET 1535.75
JULY FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 1523.74 1535.13 -
SUPPORTS 1499.28 1496.88 -
Comment: 1* Historical analysis of this minor swing pattern shows a definite bullish bias for
today's action, with the odds of this market taking out yesterday's high in the next two
trading sessions around 71 percent. 2* Yesterday's close signals breakout over a previous
daily swing high and should prompt continuation rallies the next 1-3 days. Sustained trade
over the previous high will help motivate rallies. Corrections should not close below 1484.88
to maintain the breakout. 3* We have currently achieved the initial swing objective of 1491.75,
and could penetrate the top end of the target zone (1535.75) shortly. A close under 1469.37 is
needed to negate a bull trading stance. 4* Market is within proximity of this week's projected
resistance range of 1556.67-1532.76, which may provide a likely zone for topping action or
setbacks.
SOYMEAL ST Trend Up RANGE
REVERSAL 9.20
SWING POINT 482.11 SWING TARGET 495.60
JULY FUTURE LEVE1 LEVEL2 LEVEL3
RESISTANCES 485.20 487.80 -
SUPPORTS 476.57 475.95 -
Comment: 1* Market showing a breakout over a previous contract high and should quickly
extend rallies. Failure to extend the breakout now alerts for a bull failure. A close back under
473.79 signals a breakout failure and turnaround. 2* Historical analysis of this minor swing
pattern shows a definite bullish bias for today's action, with the odds of this market taking
out yesterday's high in the next two trading sessions around 71 percent. 3* Yesterday's close
signals breakout over a previous daily swing high and should prompt continuation rallies the
next 1-3 days. Sustained trade over the previous high will help motivate rallies. Corrections
Commodities | GRAINS
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should not close below 473.79 to maintain the breakout. 4* We have currently achieved the
initial swing objective of 479.70, and could penetrate the top end of the target zone (495.60)
shortly. A close under 469.21 is needed to negate a bull trading stance. 5* Market is within
proximity of this week's projected support range of 472.56-478.50, which may provide a likely
zone for bottoming action or rebounds.
SOYBEAN OIL ST Trend Up RANGE
REVERSAL 1.21
SWING POINT 44.10 SWING TARGET 44.31
JULY FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 44.43 44.83 -
SUPPORTS 43.56 43.49 -
Comment: 1* Historical analysis of this minor swing pattern shows a definite bullish bias for
today's action, with the odds of this market taking out yesterday's high in the next two trading
sessions around 71 percent. 2* Yesterday's close signals breakout over a previous daily swing
high and should prompt continuation rallies the next 1-3 days. Sustained trade over the
previous high will help motivate rallies. Corrections should not close below 43.21 to maintain
the breakout. 3* We have currently achieved the initial swing objective of 43.85, and could
penetrate the top end of the target zone (44.31) shortly. A close under 42.75 is needed to negate
a bull trading stance. 4* Market is within proximity of this week's projected resistance range of
45.33-44.67, which may provide a likely zone for topping action or setbacks.
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WHEAT ST Trend Up RANGE
REVERSAL 28.50
SWING POINT 687.31 SWING TARGET 726.75
JULY FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 705.55 715.83 -
SUPPORTS 685.41 676.25 -
Comment : 1* The upside target zone for this pattern is from 726.75 to 745.50 with a close
under 684.57 needed to negate a bull trading stance. 2* Market is within proximity of this
week's projected resistance range of 738.00-709.66, which may provide a likely zone for
topping action or setbacks. 3* Yesterday's penetration of support range levels gives a
statistical bias for declines today-tomorrow.
CORN ST Trend Neutral RANGE
REVERSAL 11.90
SWING POINT 499.78 SWING TARGET None
JULY FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 508.28 509.25 -
SUPPORTS 498.01 494.75 -
Comment: 1* Market is challenging a previous daily swing low and may attempt a breakout.
Closing beyond 499.75 calls for continuation selloffs. A failure around 499.75 cautions for a
reactionary rebound. 2* Market is within proximity of this week's projected support range of
494.79-502.50, which may provide a likely zone for bottoming action or rebounds.
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SUGAR ST Trend Up RANGE
REVERSAL 0.51
SWING POINT 17.38 SWING TARGET 18.31
JULY FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 17.89 18.17 -
SUPPORTS 17.50 17.45 -
Comment: 1* Market showing a preliminary breakout over a previous daily swing high and
needs to quickly extend rallies into a close beyond 17.93. Failure to extend the breakout
today-tomorrow alerts for a bull failure. A close under 17.68 helps confirm a breakout failure.
2* Yesterday's range reversal alerts for a turnaround in the trend and suggests follow through
selloffs the next 1-3 days and could highlight a larger trend directional change. Only a close
over 17.63 negates the turning signal. 3* Market is challenging a previous daily swing high
and may attempt a breakout. Closing beyond 17.93 calls for continuation rallies. A failure
around 17.93 cautions for a reactionary setback. 4* The upside target zone for this pattern is
from 18.31 to 18.62 with a close under 17.51 needed to negate a bull trading stance. 5* Market
is within proximity of this week's projected resistance range of 18.20-17.80, which may
provide a likely zone for topping action or setbacks. 6* The penetration of the recent 17.86
inside day high provides a bull trend signal.
COFFEE ST Trend Down RANGE
REVERSAL 14.75
SWING POINT 186.75 SWING TARGET 179.00
JULY FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 193.71 196.30 -
SUPPORTS 184.28 179.13 -
Comment : 1* Market showing a breakout under a previous daily swing low and should
quickly extend selloffs. Failure to extend the breakout now alerts for a bear failure. A close
back over 196.71 signals a breakout failure and turnaround. 2* Yesterday's close signals
breakout under a previous daily swing low and should prompt continuation selloffs the next
1-3 days. Sustained trade under the previous low will help motivate selloffs. Corrections
Commodities | SOFTS
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should not close above 196.71 to maintain the breakout. 3* We have currently traded below
the first swing target for this market (193.60). The next objective is 179.00. A close over 201.79
is needed to negate a bear trading stance. 4* Market is within proximity of this week's
projected resistance range of 203.98-194.70, which may provide a likely zone for topping
action or setbacks.
COCOA ST Trend Down RANGE
REVERSAL 0.47
SWING POINT 2958.00 SWING TARGET 2954.00
JULY FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 2994.00 2997.00 -
SUPPORTS 2951.00 2948.00 -
Comment: 1* The downside objectives for this formation range from 29.54 to 29.35 with a close
over 29.95 needed to negate a bear trading stance. 2* Market is within proximity of this week's
projected resistance range of 30.24-29.86, which may provide a likely zone for topping action or
setbacks.
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COTTON ST Trend Neutral RANGE
REVERSAL 2.33
SWING POINT 92.88 SWING TARGET None
JULY FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 93.72 94.00 -
SUPPORTS 91.81 91.58 -
Comment: 1* Market is challenging a previous daily swing high and may attempt a breakout.
Closing beyond 93.48 calls for continuation rallies. A failure around 93.48 cautions for a
reactionary setback. 2* Market is within proximity of this week's projected resistance range of
95.03-93.87, which may provide a likely zone for topping action or setbacks.
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EURO ST Trend Up RANGE
REVERSAL 0.76
SWING POINT 1.3796 SWING TARGET 1.4019
JUNE FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 1.3855 1.3860 -
SUPPORTS 1.3785 1.3778 -
Comment : 1* The upside target zone for this pattern is from 140.19 to 140.21 with a close
under 138.11 needed to negate a bull trading stance. 2* Market is within proximity of this
week's projected resistance range of 139.21-138.19, which may provide a likely zone for
topping action or setbacks.
B POUND ST Trend Up RANGE
REVERSAL 1.04
SWING POINT 1.6829 SWING TARGET 1.6907
JUNE FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 1.6835 1.6894 -
SUPPORTS 1.6753 1.6741 -
Comment: 1* Market showing a preliminary breakout over a previous weekly swing high
and needs to quickly extend rallies into a close beyond 168.05. Failure to extend the breakout
today-tomorrow alerts for a bull failure. A close under 166.78 helps confirm a breakout
failure. 2* The market is following a bull channel. A close over 168.81 or rally beyond 169.13
today signals a breakout and acceleration up from the channel. An upside channel breakout
may not show rallies the next day, but carries a strong bias for advances in the coming 2-5
days. A close under 166.42 or drop under 166.09 today signals a downturn from the bull
channel. 3* Market is challenging a previous daily swing high and may attempt a breakout.
Closing beyond 168.12 calls for continuation rallies. A failure around 168.12 cautions for a
reactionary setback. 4* The upside target zone for this pattern is from 169.07 to 169.84 with a
close under 167.07 needed to negate a bull trading stance. 5* Market is within proximity of
this week's projected resistance range of 169.15-167.97, which may provide a likely zone for
topping action or setbacks.
Forex | CURRENCIES
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J YEN ST Trend Down RANGE
REVERSAL 0.74
SWING POINT 0.9765 SWING TARGET 0.9756
JUNE FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 0.9812 0.9821 -
SUPPORTS 0.9746 0.9730 -
Comment: 1* We have currently traded below the first swing target for this market (97.89). The
next objective is 97.56. A close over 98.24 is needed to negate a bear trading stance. 2* Market is
within proximity of this week's projected resistance range of 98.82-97.98, which may provide a
likely zone for topping action or setbacks. 3* The penetration of the recent 97.93 inside day low
provides a bear trend signal.
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AUSSIE$ ST Trend Down RANGE
REVERSAL 0.77
SWING POINT 0.9359 SWING TARGET 0.9288
JUNE FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 0.9386 0.9391 -
SUPPORTS 0.9315 0.9299 -
Comment: 1* The downside objectives for this formation range from 92.88 to 92.59 with a
close over 93.51 needed to negate a bear trading stance. 2* Market is within proximity of this
week's projected resistance range of 94.67-93.75, which may provide a likely zone for topping
action or setbacks.
CANADIAN$ ST Trend Down RANGE REVERSAL 0.64
SWING POINT 0.9041 SWING TARGET 0.8977
JUNE FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 0.9095 0.9100 -
SUPPORTS 0.9037 0.9021 -
Comment: 1* The downside objectives for this formation range from 89.77 to 89.39 with a
close over 91.39 needed to negate a bear trading stance. 2* Market is within proximity of this
week's projected resistance range of 91.61-90.84, which may provide a likely zone for topping
action or setbacks.
SWISS FRANC ST Trend Up RANGE
REVERSAL 0.73
SWING POINT 1.1318 SWING TARGET 1.1560
JUNE FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 1.1384 1.1390 -
SUPPORTS 1.1316 1.1306 -
Comment: 1* The upside target zone for this pattern is from 115.60 to 115.90 with a close under
112.75 needed to negate a bull trading stance. 2* Market is within proximity of this week's
projected resistance range of 114.64-113.51, which may provide a likely zone for topping action
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or setbacks. 3* Yesterday's penetration of support range levels gives a statistical bias for declines
today-tomorrow.
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
Information. This Material Is Not Intended As An Offer Or Solicitation for the Purchase or Sale of Any Financial
Instrument.
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