Daily Forex Technical Analysis Report – 11-04-2014

Please do not print this report unless it is absolutely necessary. Save a tree. Date: 11/04/2014

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GOLD ST Trend Down

Obj: None TRP: 1321.20

DECEMBER FUTURE LEVEL1 LEVEL2 LEVEL3

RESISTANCES 1321.20*+/- 1326.30 1334.00

SUPPORTS 1314.90 1310.00 1295.50*

Comment : Overall the market is still bearish, but near term corrections has trade test up

around 132120* resistance. A close over 132120* secures a short term turnaround and could

spark a bull upswing to 1340+. If trade is capped by 132120*, suspect one more bear leg. A

close under 129550* will resume bear trending trade.

SILVER ST Trend Down



RESISTANCES 20.220 20.585 -

SUPPORTS 19.970 19.890 19.660

Comment: Overall the market is short term bearish, but yesterday’s spike higher hints for

near term corrections for a few days. A sustained push over 20315+ should produce rallies

and pop over 20585 will send a run to challenge the 2095* resistance. Trade may resume

choppy sideways action just under 2000-, but only a drop off through 1966- resumes bear

trending.

COPPER ST Trend Sdwys /Down



RESISTANCES 3.0700 3.0885* -

SUPPORTS 3.0160 2.9925- 2.9595

Comment: Overall the market is still bearish and drop below 29595 could resume declines to

test at 290-. Trade may yet attempt further recovery action and work rising congestion into a

Commodities | Precious - Metals


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push to test 30885* resistance for a bottoming turn. Be careful for a setback from 30885* to

prompt secondary selloffs. A close over 30885* implies a drive to 315-31650.


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CRUDE OIL ST Trend Sdwys/Down

Obj: 104.00 TRP: 100.73

JANUARY FUTURE LEVEL1 LEVEL2 LEVEL3

RESISTANCES 104.00 104.23

105.50

SUPPORTS 102.49 102.06 100.73*

Comment: This week’s thrust higher signals an upside breakout and projects to 104 as well as

10550. Trade is poised for aggressive rallies. A push beyond 10423 should spark rallies. We

may see 2-3 flagging days to consolidate gains, but any corrections should find support back

around the upturn level near 10162+. Only a close under 10073* marks a reversing turn back

to lower prices.

NATURAL GAS ST Trend Sdwys

Obj: 4.636 TRP: 4.362


RESISTANCES 4.755 4.845 5.089*

SUPPORTS 4.463 4.500+/- 4.405*

Comment: The market is short term friendly and poised for pressing rallies to challenge within

the late February reversal high. A close over 4680 should spark rallies. A breakout over 4893

projects to 5089*. We may see corrective congestion back within this week’s range, but suspect

support near 4500+/-. Only a close under 4405* signals a reversing turn back to bearish trade.

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MINI S&P ST Trend Up



RESISTANCES 1838.00 1850.75* 1866.25*

SUPPORTS 1823.50- 1804.00 1793.50*

Comment: The market is dropping to attack for a downside attack under congestion lows of

recent weeks. A breakout under 1826- signals for a larger bear wave to 179350*. If trade is

reluctant to extend under 1826-182350, then be ready for modest rebounds into flagging

congestion in the lower half of yesterday’s downturn. A close over 186625* is needed to flip

the market back to bull trend forces.

MINI DOW ST Trend Up

Obj: 15960 TRP: 16384


RESISTANCES 16198 16240 16384*

SUPPORTS 16040+/- 15960 -

Comment : Yesterday’s sharp break signals a bear turnover in the formation and should

pressure selloffs to 15960. A selloff through 15960- warns for a larger unfolding decline.

Corrections should struggle to push back over 16244 if bear forces have control. However,

only a close over 16384* rekindles bull trend forces.

MINI NASDAQ ST Trend Up

Obj: 3437.00 TRP: 3594.75


RESISTANCES 3520.00 3522.75 3570.75*

SUPPORTS 3463.00 3437.00- 3437.00

Comment: The market is bearish and yesterday’s crash into a new low for the week gives

T Bonds | INDICES


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negative signals for follow through selloffs to 343700. A close under 341500 warns for a larger

washout. Any corrections should stay trapped to the lower half of yesterday’s selloff if bear

forces are in control. Only a close over 357075* rekindles bull trend forces.


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SOYBEANS ST Trend Sdwys/Up



RESISTANCES 1497.00 1500.00 1516.00

SUPPORTS 1478.00 1465.00 1459.00

Comment: The market remains in a bull trend. A close over 1496 could launch a drive around

1545+/-. Wednesday’s back off from over 1500 still cautions for a shift to corrective trade and

we should be ready for further tests of support within last week congestion levels. A drop

under 1459 1/2 is negative. A close under 1444 3/4* confirms a topping reversal signal.

SOYMEAL ST Trend Sdwys/Up

Obj: 497.70 TRP: 465.40

JANUARY FUTURE LEVE1 LEVEL2 LEVEL3

RESISTANCES 486.00 491.50 497.70

SUPPORTS 476.30 473.70 465.40*

Comment: The market is bullish, but needs to quickly follow up Wednesday’s preliminary

breakout into new highs. A close over 487 signals for a drive to 49770. Near term dips suggest

flagging corrections, but trade remains positioned for rallies as long as trade holds within last

week’s flagging range. A drop under 47370 voids bull forces. A close under 46540* highlights

a topping turn.

SOYBEAN OIL ST Trend Sdwys/Up

Obj: 43.06 TRP: 41.04


RESISTANCES 43.06* 43.75 -

SUPPORTS 42.20 42.12 41.85

Comment: The market is signaling a short term bottoming upturn and climbing to 4306*

retracement resistance. A close over 4306* is bullish. Suspect a setback from 4306*+/- on the first

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test. Any minor corrective dips should hold off the lower 4200’s to maintain strong bull forces.

A drop under 4185 confirms a downturn against 4104*.


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WHEAT ST Trend Down

Obj: 646.00- TRP: 682.00

MARCH FUTURE LEVEL1 LEVEL2 LEVEL3

RESISTANCES 668.00 672.00 682.00*

SUPPORTS 658.00 646.00 640.00

Comment : The market is short term bearish and yesterday’s preliminary breakout under the

658 1/2 low leaves trade poised for a larger selloff. A close under 658 1/2 should open up

declines to 646-640. A reluctance to extend under 658 1/2- may trigger near term rebounds

and sideways higher flagging corrections, but only a close over 682* will start a short term

turnaround.

CORN ST Trend Down



RESISTANCES 504.00 505.00 509.00

SUPPORTS 495.00 492*.00 485.00-

Comment: This week’s reversal from a new high alerts for a peaking turn and yesterday’s

corrective setbacks started a test of support levels at 495 and 492*. A close under 492* alerts for a

short term peaking turnover for a drop into the 480-470 zone. A close over 509 1/2* is needed to

spark fresh rallies into new highs.


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SUGAR ST Trend Down



RESISTANCES 17.26 17.31 17.60*

SUPPORTS 16.87 16.80 16.49-

Comment: Last week’s drop off signals a short term bear reversal with a chance for sustained

choppy declines to 1650. Trade is poised for selloffs, but recent recovery / congestion could

yet foster sideways higher action inside for a bear flag setup today. Only a close over 1760*

rekindles bull trend forces.

COFFEE ST Trend Sdwys/Up

Obj: 209.75+ TRP: 191.80


RESISTANCES 208.90 209.75 227.00

SUPPORTS 200.85 197.95 191.80*

Comment : The market is powering secondary rallies against the last swing high, challenging

for a breakout attack beyond 20975+. A close over 20975 projects a drive to 227. Any

corrective congestion should fight to hold off 19180* to keep strong bull forces. A close under

19180* calls for a multi-week correction phase.

COCOA ST Trend Up



RESISTANCES 2996.00 3011.00 3039.00

SUPPORTS 2960.00 2949.00* -

Comment: The choppy rallies of the past week indicate a positive turn and hints for a breakout

attack over the 3039 swing high. Any corrective dips that hold off the 2960/2949* levels should

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fuel rallies to attack over 3039+. Be prepared for sideways congestion today, but watch for the

bounce from 2960-49*. A close under 2949* is needed to flip trend forces into peaking action.


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COTTON ST Trend Down

Obj: 86.12- TRP: 92.57


RESISTANCES 89.99 91.60* 92.57*

SUPPORTS 87.00 86012- 84.94

Comment: The market is bearish, alerting for a larger topping downturn that will drive

retracement declines to 8612- and chance to slide to 8500-. The weak close calls for continuation

selloffs today. Any corrections will likely struggle to recover back through the low 90’s and only

a close over 9160* stops aggressive bear forces.


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EURO ST Trend Sdwys/Down

Obj: 139.66 TRP: 1.3756


RESISTANCES 1.3911 1.3942 139.66

SUPPORTS 1.3844 1.3809 1.3797

Comment : This week’s climbing rallies signal a bull upturn out recent corrections and has

the market positioned to push for a breakout attack over the 13966 swing high. A close over

13966 is bullish and implies a larger emerging bull advance over 14020+. Be prepared for

resting resistance against the mid- March peaking levels over 13900+ that could trigger near

term setbacks and shift to flagging congestion over 13800+.

B POUND ST Trend Sdwys/Up

Obj: 1.7000+ TRP: 1.6646


RESISTANCES 1.6805+ - -

SUPPORTS 1.6717 1.6691 1.6646*

Comment: The thrust higher this week marks a bull upturn and calls for pressing rallies to

attack for a bull breakout over the 16805 swing high. A breakout beyond 16805 opens up

potential for an emerging bull wave over 170+. We may see minor consolidation of gains back

in the upper edges of Tuesday’s run, but a close under 16646* is needed for a reversing

turnover.

J YEN ST Trend Down



RESISTANCES 0.9869 0.9889 0.9930

SUPPORTS 0.9813 0.9771 0.9702*

Comment: Tuesday’s sharp rally signals a reversing turn and warns for a larger emerging bull

wave that will try to push over the sideways congestion highs of the past couple months. A

Forex | CURRENCIES


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breakout over 9886-89 creates a bull swing objective to 10030. We may see near term

consolidation slip to the upper edges of Tuesday’s run, but tight congestion will build a staging

level for rallies. A close under 9702* marks a bear reversal turn.


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AUSSIE$ ST Trend Down

Obj: 0.9362 TRP: 0.9259


RESISTANCES 0.9399 0.9416 -

SUPPORTS 0.9340 0.9278 0.9159*

Comment: The market is bullish, running trade into an attack over the 9362+ target. Trade is

poised for aggressive rallies, but a close over 9410 is needed to continue stretching rallies. Be

ready for near term corrections to last week’s congestion, although, only a close under 9259*

confirms a peaking turnover.

CANADIAN$ ST Trend Sdwys/Down



RESISTANCES 0.9188 0.9255 0.9276

SUPPORTS 0.9130 0.9118 0.9061*

Comment: The market is short term bullish, but stalling within the target zone at 9150-9200.

Trade is still poised for rallies, but a close beyond 9200-10 is needed to add a stretching run to

9255-76. Be prepared for a slip back into corrective trade, consolidating gains along 9100-.

Congestion trade that stays over 9100 should bull flag. A close under 9061* signals a bear

turnover.

SWISS FRANC ST Trend Sdwys

Obj: 1.1490+ TRP: 1.1276


RESISTANCES 1.1428 1.1490 1.1503

SUPPORTS 1.1370 1.1322 1.1276*

Comment: This week’s rallies have powered a bull upturn, signaling for a push to attack the

mid-March swing high. A breakout over 11503 implies a drive to 11555+. Be careful for resting

resistance against the previous peaking congestion which could trigger minor setbacks, but

tight sideways consolidation around the mid 113 levels will bull flag. A close under 11276* is


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needed for a reversing turnover.

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

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Daily Forex Technical Analysis Report – 11-04-2014

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