May crude oil futures continued to climb higher once again in yesterday’s trading session, closing at $96.51 per barrel, with a narrow spread up candle with wicks to both top and bottom on the daily chart.
Morning Coffee Break – Monday April 1 In today’s Morning Coffee Break we find as traders come to their trading systems after a 3 day weekend and the start of the second quarter have several milestones to build on from record closes on the Dow and S&P 500.
As the old saying goes, another day and another dollar. Well not quite, and for silver traders it’s getting to the stage where a dollar move in the trading session would be considered a significant one! Yesterday’s trading, certainly didn’t break the mould of the last few weeks, and traders must be wondering if this market is every going to break.
USDJPY remains in downtrend from 96.70, the rise from 93.53 is likely consolidation of the downtrend. Key resistance is now located at the upper line of the price channel on 4-hour chart.
Morning Coffee Break – Wednesday March 27 Today’s Morning Coffee Break is finding U.S. equity futures are indicating a lower open this morning after yesterday’s push higher towards an all-time high of less than two points in the S&P 500.
Crude oil futures started the week in bullish tone, with the April WTI contract closing higher at $94.81 per barrel, up almost $1.50 in the session, and ending with a wide spread up candle, but with a small wick to the upper body. Nevertheless, despite the upper shadow, sentiment for crude oil remains firmly bullish, and yesterday’s oil trading session gave us some strong signals for the next few days.
Morning Coffee Break – Friday March 22 U.S. equity markets are pointing to higher open on the first day of the week of a short week. All three U.S. indexes are in the green on a Cyprus last minute bailout plan that was approved by European Union Finance Ministers.
Gold continued to ease higher once again yesterday, with May gold futures on Globex closing at $1613.80 per ounce, up just over $8 per ounce in the session and ending with a narrow spread up candle, supported by average daily volume.
USDJPY moves sideways in a trading range between 94.31 and 96.70. The price action in the range is likely consolidation of the uptrend from 90.93.
Morning Coffee Break – Friday March 22 As we get ready to start the final session of the week traders will be without a doubt will be focused on the developments in Cyprus. Or should I say lack of development as Cyprus leaders’ hopes for a Russia bailout loan has fallen part and are going into the weekend with no deal and the European Central Bank deadline set for Monday
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